Tesla Key Levels After the Robotaxi Sell-Off

$Tesla (TSLA.US)$ shares took a hit following the Robotaxi event, sparking a wave of sell-offs. Investors are now watching closely for signs of a potential recovery or further decline.

1. Resistance is at $265-$270.

2. Support is at $200. This support is significant because it represents the neckline of an inverted head and shoulders pattern (a bullish reversal pattern) and aligns with the 200-day moving average (an important support level).

3. During the sell-off after the Robotaxi event, the price fell with slightly higher volume, indicating aggressive selling.

4. TSLA is currently supported by an upsloping trendline and a 62% Fibonacci retracement level around $214.

At this moment, ‌‌$Tesla Motors (TSLA)$ ‌appears to be moving within a range, with stronger support in the $190-$200 zone.

DLCs for short-term trading:

$TESLA 3xLongSG261006 (TSYW.SG)$

Tesla Key Levels After the Robotaxi Sell-Off

It is also worth mentioning that if the price moves up now, it could close the gap created by the Robotaxi event. Technically, after the gap is closed, the price may resume its downward movement.

Follow me for fresh ideas.

For more about DLCs, visit https://dlc.socgen.com/en/education/handbook

Disclaimer:

This document is not an offer or solicitation to buy or sell, nor financial advice or recommendation for any investment product. This document has been published for general circulation only.

This advertisement has not been reviewed by the Monetary Authority of Singapore. This post is sponsored by Societe Generale, Singapore Branch. The content of this article does not form part of any offer or invitation to buy or sell any daily leverage certificates (the “DLCs”), and nothing herein should be considered as financial advice or recommendation. The price may rise and fall in value rapidly and holders may lose all of their investment. Any past performance is not indicative of future performance. Investments in DLCs carry significant risks, please see dlc.socgen.com for further information and relevant risks. The DLCs are for specified investment products (SIP) qualified investors only.

Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more