- Tesla hasn't been as low as $196.66 in 1 year.
- Tesla has just crossed the lower Bollinger Band® at $200.87, indicating further losses could be forthcoming.
Over the last 6 days, Tesla has fallen 13.76%. Yesterday's session continued the recent downtrend: a tough session dominated by bearish sentiment left Tesla $10.39 lower, while setting a $196.66 to $208.9 session range.
The trendy electric cars company has shed 28.56% over the past three months.
The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. A crossing of the lower Bollinger Band® at $200.87 suggests further losses may follow for Tesla. In contrast, Tesla could begin to recover as it approaches significant support, now $2.02 away from $199.1. Dipping below could be an indication that further losses are ahead.
In the short term, Tesla is expected to maintain its recent downtrend and continue spiralling lower.
Upcoming fundamentals: United States Crude Oil Inventories is projected to outperform its last figure with 1.1 million. It previously stood at -3.12 million; data will be released tomorrow at 15:30 UTC.