TESLA INC. (NASDAQ:TSLA): Tesla stock is deepening into bear market territory ($390.83) as global sales plunge

 


Tesla stock broke the key support level at $377.42 of a descending triangle chart pattern after a Reuters report said that Tesla's China sales dropped 11% in January while Tesla sales in Germany plunged almost 60%. The price target in a descending triangle breakdown is $300.35, or $1T market cap. If the $300.35 level can't hold, $TSLA could head down further to retest the November 6, 2024 breakout at $273.54.

This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

Comments

Post a Comment

Popular posts from this blog

TESLA INC. (NASDAQ:TSLA): Tesla stock took a deep dive after UBS lowered Q1 EV delivery and gross margin estimates

Image
  Tesla stock tumbled over 15% on Mon day after UBS lowered their Q1 EV delivery estimates from 437k to 367k. UBS now sees Tesla's gross margins shrinking to 10.3%, compared to 16.4%, during the same quarter a year ago.  The bearish "lower-lows" chart pattern resumes after the stock broke the shoulder of the "head-and-shoulders" chart pattern at the end of February , with the price target of $194.81 . Coincidentally, a 60% pullback from its high is $195.42. This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update !
Read more

TESLA INC. (NASDAQ:TSLA): UPDATE - Tesla stock's downtrend is still intact / Sell $TSLA/Buy $BYDDF

Image
  Tesla stock is under selling pressure after BYD announced on Tuesday that the company will offer its free automated driver assistance system (ADAS) in China on their 21 models. It looks like the smart money is moving out of $TSLA into BYD (OTCPK:BYDDF). BYD stock has already been up 46.27% YTD while $TSLA is down 16.44%. From a technical viewpoint, Tesla stock's downtrend is still intact with t he price target of $288.39 after a descending triangle chart pattern breakdown on February 5 . Keep an eye on the trendline support ~ $314. A breakdown could mean that Tesla stock's post election surge has completely evaporated. This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update !
Read more

SP500: The S&P 500 broke out after China exempts some U.S. imports from its 125% tariff rate

Image
The S&P 500 surged for the fourth straight day on Friday, br eaking out of the downtrend channel , to close above the correction level (5,502.69) after several media report s of China exempt ing some U.S. imports from its 125% tariff rate. Be aware that the Chinese Foreign Ministry said a day earlier that China has not been engaged in any talks or negotiations with the U.S. on tariffs. T he bottom may be in, pending the release of big tech earnings, plus reports o f U.S. inflation data and U.S. payrolls, next week. Also let's hope that Trump will not come up with an y other idea s on tariffs so the index can stay out of correction level s . This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!
Read more