DRIV - Tesla's Decline: Unveiling Growing Downside Risk (Technical Analysis)
2024-02-14 08:50:37 ET
Summary
- Tesla, Inc. stock is exhibiting weakness and is at a critical juncture, presenting both downside risk and short-term profit opportunities.
- The U.S. economy shows mixed signals, with the technology sector performing well but consumer sectors facing slower growth and mounting debt.
- Tesla might rebound and reach overhead resistance, yet there's a higher probability of a retracement toward support levels, indicating further decline in the stock.
- In this technical article, I discuss important price levels for Tesla and metrics that investors could consider for gaining an edge on the stock’s likely price action.
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Tesla's Decline: Unveiling Growing Downside Risk (Technical Analysis)