Tesla Inc. (NASDAQ: TSLA) experienced a pullback in its latest intraday trading session, weighed down by persistent technical pressures. The stock’s decline followed a retest of its previously broken upward trend line, which failed to hold as support.
Adding to the bearish sentiment, Tesla continues to trade below its 50-day Simple Moving Average (SMA), a key indicator that underscores the loss of short-term momentum. Furthermore, a negative divergence is beginning to form on the Stochastic oscillator, suggesting waning bullish momentum as the indicator enters overbought territory while price action fails to confirm the highs.
Given these signals, analysts anticipate additional downside in Tesla’s share price in the near term. The next critical support level is identified at $217.00, contingent upon resistance remaining firm at $271.00.
Outlook for April 7, 2025: Bearish
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