Tesla tumbles in free fall - Analysis - 10-11-2022

Economies.com
2022-11-10 11:15AM UTC

Tesla's stock (TSLA) skidded in the last session after SEC registrations showed CEO Elon Musk sold nearly $4 billion worth of Tesla stocks to finance his Twitter buyout, sending the stock down 7.17%, or 13.71 points, and settling  at 177.59, with trading volumes surpassing 127 million shares, above 10-day averages of 82.3 million shares.

 

Technically, the downward trend dominates in the medium and short terms, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI despite reaching oversold levels, piercing the pivotal support of 182.33. 

 

Therefore we expect more losses for the stock, targeting the support of 141.80, provided it settles below 182.33. 

 

Expected trend for today: Bearish

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