The Long Investor
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$TSLA TOP 20
🕑 Added 2025-03-10 17:48:19 +0000 UTC$TSLA is down a desperate -13% today and the RSI on the weekly chart is at 35, having been at 85 only in December.
The price action is running through to support levels as tho they are not even there and in desperate need of support to be found now.
It is difficult to pinpoint what exactly is the cause of this harsh decline, because the price is now well below its 200 WMA and has gone from being one of the best performing stocks in 2025 to one of the worst.
Elon's negative press is likely not helping and declining sales in Europe.
Elon also appears to have failed to convince people that $TSLA is now a robotics company and that is where the growth is next....which I do believe this to be true.
Price action can stay on the outside of the wedge if support can be found above the last 0.887 Fib at $178....but below this level and $TSLA can drop into the Buy Zone at $114
Very little believed we would be talking about this range again.
Comments
Just Wheel IT
I'm concerned with Elon's statement today on Fox that he's having "great difficulty running his businesses". This is just going to add fuel to the sell off. Not a smart thing to say. Let's just hope he does not get margin called.
niorthey
The Mag 7 valuation is so high that all the news coming out of China for the last few months will challenge those (1. Deepeek, 2. Monica/Manus, super-conducting quantum computer, 3. 1 Trillion RMB national VC fund targeting AI, quantum computing, hydrogene energy, bio-manufacturing, 6G ; 4. EUV machine developed utilizing laser induced discharge plasma that will challenge ASML .......).
Crewz
Thanks for the update! I trimmed many shares with big gains at the top too! And been buying many shares recently to catch the next ride up. Even if this means we have to test the 0.786 fib at $214 first
niorthey
I am no expert in technical and that is why I am a member but from a macro and geopolitical standpoint, there are no surprises on the Tesla correction. I believe there is more downside.
Federico Salerno
Worst* not “spray”… damn…
Federico Salerno
Wow 110 is -50% from here… it would be even spray than PLUG 🤣 but thanks to Cap I have sold with heavy gains, I would be in wide loss otherwise… another great call!!! 🤠
