Watch These Tesla Price Levels as Stock Plunges to Pre-Election Levels | Global News Avenue

Tesla (TSLA) On Monday, stocks fell 15%, leading S&P stood out to shut down its election day levels for the first time.

Stocks of electric carmakers soared after Donald Trump won the Nov. 5 presidential election, as CEO Elon Musk’s close relationship with the president is expected to benefit the company. However, since reaching an all-time high on December 18, the stock has fallen 55% as investors continue to pay attention to Musk’s role as leader of the Ministry of Efficiency It may hurt Tesla’s brand and sales. Recent sales figures from China and Europe are weak, and uncertainty about the impact tariff There are emotions in automakers too.

The stock is Every one of the last seven weeksMusk said after an interview Fox Business He has “very difficult” to run his own business. Still, Musk added that he hopes to be in the Trump administration in another year.

Below, we break down Tesla’s Weekly chart And apply Technical Analysis It is important to point out key price levels that are worth paying attention to, because stocks have high volatility.

Stocks below 200-week moving average

since Shooting stars Tesla’s share price marks a record-high trend for stocks in mid-December, below the closely watched price 200-week moving average In Monday’s trade fair.

And, add roll With the recent decline, signaling participation of large market participants in sales, e.g. Institutional Investors and hedging funds.

and Relative Strength Index (RSI) Confirmed bearish momentum, with a reading below 50, the indicator has moved into a zone that usually corresponds to a bounce in stock, dating back to May 2022.

Let’s determine a few keys Support and resist Levels on Tesla’s charts are likely monitoring investors.

Key support levels for monitoring

Tesla shares fell 15.4% to end Monday’s regular trading session at $220.15.

The first level of tracking is around $215. The region is currently close to Tuesday’s expected opening price, which can be supported from a series of lows from May to July 2022 Reverse head and shoulders The pattern is formed on the chart within the twelve months from October 2023 to 2024.

farther shortcoming The stock can be seen falling to $165. Investors may seek buying opportunities in the area near April 2023 Pull back The low point, also aligns with a range of prices that are located above the bottom of the reverse head and shoulder pattern.

The main resistance level to watch

In the stock recovery effort, it’s worth seeing how the price responds to the $265 level, where the position on the chart may provide overhead resistance near the reverse head and shoulders. Neck.

Finally, this level of convincing closeness can re-examine Tesla’s sharing psychology $300 zone. Investors who buy recent weaknesses may see Lock profits Approaching a series of outstanding peak This is developed on the chart between January 2021 and July 2023.

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