Shortly after reporting earnings, Tesla stock fell more than 9% in the final hours of trading. This new bearish move is mainly due to the company’s earnings per share (EPS) of $0.40, which missed expectations of $0.43, and revenue of $22.5 billion, below the projected $22.74 billion. These figures indicate that Tesla failed to meet market expectations, triggering a sustained downward trend in the stock. This move could extend further unless new catalysts emerge to restore investor confidence.
Downtrend Remains Intact
Recent price action has been clearly bearish and continues to reinforce a downtrend that began forming in late December. So far, there has been no significant bullish correction to challenge this structure, making the bearish pattern the dominant technical setup in the short term.
Technical Indicators
RSI: The indicator remains below the neutral 50 level, suggesting that selling momentum continues to build. If the downward path persists, bearish pressure may grow stronger in upcoming sessions.
MACD: The MACD histogram is currently hovering around the zero line, showing signs of technical indecision. However, if it crosses clearly below zero, it would confirm a more sustained bearish momentum.
Key Levels to Watch:
Written by Julian Pineda, CFA – Market Analyst
Downtrend Remains Intact
Recent price action has been clearly bearish and continues to reinforce a downtrend that began forming in late December. So far, there has been no significant bullish correction to challenge this structure, making the bearish pattern the dominant technical setup in the short term.
Technical Indicators
RSI: The indicator remains below the neutral 50 level, suggesting that selling momentum continues to build. If the downward path persists, bearish pressure may grow stronger in upcoming sessions.
MACD: The MACD histogram is currently hovering around the zero line, showing signs of technical indecision. However, if it crosses clearly below zero, it would confirm a more sustained bearish momentum.
Key Levels to Watch:
- $356 – Major Resistance:
This level corresponds to the 50% Fibonacci retracement. A break above this zone could threaten the current downtrend. - $320 – Nearby Resistance:
Aligned with the 200-period simple moving average and the 38.2% Fibonacci level, a close above this point could reignite bullish sentiment and trigger a short-term upward move. - $280 – Key Support:
This is a critical support level, aligned with the 23.6% Fibonacci retracement. A breakdown here could extend the ongoing bearish trend.
Written by Julian Pineda, CFA – Market Analyst
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.