TSLA on the Weekly timeframe is currently traded around 248.00, testing a critical support level. The recent sharp decline from the 357.50 resistance zone has pushed the stock into a potential oversold condition, with strong bearish momentum dominating the market.
The price has broken below the middle Bollinger Band, indicating increased selling pressure. The lower Bollinger Band is expanding, suggesting the possibility of continued downside movement. The MACD (12,26,9) at 7.026 with a signal line at 36.313 confirms the ongoing bearish momentum, with a declining histogram indicating weakening buying interest.
A close below 248.00 could open the door for further downside towards lower levels. However, if buyers defend this level, a short-term rebound might occur.
Market Observation & Strategy Advice:
1. Key support: 248.00 – A break below this level could push TSLA toward the next psychological support near 220.00-200.00.
2. Key resistance: 357.50 – A move above this level is required to shift sentiment back to bullish.
3. Bearish momentum remains strong, with MACD indicating continued weakness.
4. Bollinger Bands suggest increased volatility, and a break below the lower band could signal further downside.
5. Trading strategy:
Market Performance:
Stocks Last Price % Change
AAPL 216.98 −1.75%
MSFT 383.27 +0.74%
NFLX 919.68 +2.75%
Today’s Key Economic Calendar:
AU: RBA Jones Speech
EU: Industrial Product MoM
US: PPI MoM
Risk Disclaimer: This report is for informational purposes only and does not constitute financial advice. All investments involve risk and past performance is no guarantee of future results. Please consult your financial advisor for personalized investment advice.
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