TSLA Keep Falling Ahead of the Robotaxi EventTesla (TSLA) has been experiencing a notable drop, currently trading at $233.72, down 3.04%. A look at technical indicators across multiple time frames reveals persistent selling pressure:
NASDAQ:TSLA Indicators:
2-Hour Indicators:
Relative Strength Index (RSI) is at 29.50, approaching oversold levels, indicating potential exhaustion in the selling pressure but not yet confirming a reversal.
MACD remains negative at -2.55, signaling continued downward momentum.
Exponential and Simple Moving Averages across multiple periods (10, 20, 30) are all showing a "Sell" signal, highlighting a bearish trend.
Momentum (10) is at -7.86, also pointing to weakening price action.
30-Minute Indicators:
RSI at 24.29 is deep in oversold territory, suggesting the possibility of a short-term rebound or consolidation.
The MACD is negative at -1.32, reinforcing bearish momentum in the short term.
Both the Exponential and Simple Moving Averages (10, 20, 30) reflect consistent sell signals.
Conclusion:
Tesla's current price action is under significant downward pressure, with multiple indicators pointing to further declines. However, with the RSI nearing oversold levels on both short and medium-term time frames and the highly anticipated Robotaxi event scheduled for later today, increased volatility is almost guaranteed. This event could serve as a potential catalyst, either stabilizing the stock if news is received positively or leading to further declines if market expectations aren't met. Caution is advised as the stock navigates this critical juncture.
