Tesla – Weekly Analysis

Two weeks ago, I warned of a big drop coming for Tesla. Now the stock is down over 20%, officially entering a bear market. But is the decline nearly over, or is Tesla just warming up? In this analysis, we break down the probabilities, examine the technical signals, and uncover what they suggest for Tesla’s next move. CANDLES Today, Tesla sliced through the 50, 100, and 200 DMA like a knife through butter, and the move also helped form a Tower Top on the weekly frame. Although the stock is oversold on several hourly frames and will likely bounce short-term, the damage appears more structural, and the chances for a continued decline are higher. Downside pressure continues to build. The stock is bearish until reversed. MACD – Monthly Two months ago, I made a statistical call on a bearish monthly MACD cross. This event has occurred only three times since…