London Daily

Focus on the big picture.

Tesla's Stock Falls Below Another Key Chart Level, Dipping Into a ‘Gap’ Support Zone

Tesla's Stock Falls Below Another Key Chart Level, Dipping Into a ‘Gap’ Support Zone

Tesla Inc.'s stock fell below another key chart level on Wednesday, dipping into a "gap" support zone that could lead to further losses.
The stock (ticker: TSLA) fell as much as 4.6% to an intraday low of $153.21, before paring some losses to be down 3.4% in afternoon trading.

The decline came after the stock broke below the 50-day moving average, a key technical support level. The 50-day moving average is currently at $161.17.

The stock also fell below the 38.2% Fibonacci retracement level of the rally off the January 3 low of $108.10 to the February 14 peak of $214.24. The Fibonacci retracement levels are a series of technical levels that are used by traders to identify potential support and resistance levels.

The stock is now trading in a "gap" support zone. A gap is a price gap that occurs when the price of a stock opens significantly higher or lower than its previous close. Gaps can be caused by a number of factors, including news events, earnings announcements, or changes in investor sentiment.

Gap support zones are areas where the price of a stock has previously traded and is expected to find support. If the stock falls below the gap support zone, it could lead to further losses.

Tesla's stock has been under pressure in recent months amid concerns about rising interest rates, supply chain disruptions, and increased competition in the electric vehicle market.

The stock is down about 30% year to date.

Related Articles

London Daily
Julian Assange Freed After US Plea Deal
Chaotic Portugal Win Over Turkey at Euro 2024
Global Headlines: Hajj Heatwave Tragedy, Flynn's Family Enterprise, and Rising Geopolitical Tensions
Political Shifts in France, Legal Battles in the UK, and Public Protests in Israel
UK's Richest Family Convicted for Exploiting Servants
Hollande Declares End to Macron’s Political Ascendancy
Hindujas Appeal Swiss Court's Human Trafficking Verdict
Prince William Celebrates Birthday at Taylor Swift Concert
Singapore to Implement Screen Time Regulations for Children
Hello and welcome back. Here we are with your latest news update from around the world.
Hello and welcome back. Here are today's top stories from around the world, you don't want to miss:
UK PM Sunak and the Election Betting Scandal
Climate Activists Target Taylor Swift's Private Jet in UK
United States Bans Kaspersky Antivirus
US to Supply Taiwan with Suicide Drones Amid Rising Tensions with China
Bodyguard of UK Prime Minister Arrested for Alleged Election Betting
Global Displacement Crisis: Record Numbers in 2023
Muslim Community Leader Criticizes Nigel Farage for Undermining Muslims
Melinda Gates Discusses 'Horrible' Divorce from Bill Gates
Child Obesity Surge in England: A Deep Concern
U.S. Sues Adobe Over Hard-to-Cancel Subscriptions
Deadly Heat Wave Claims Dozens of Lives During Hajj Pilgrimage in Mecca
Here are today's top worldwide stories you don’t want to miss:.
World’s Largest Pilot Union Calls to Eliminate Terms Like ‘Cockpit’ and ‘Manpower’ for Equity
Woman Suing UK Intel Services Denies China Spy Allegations
Iran Sentences Nobel Laureate Narges Mohammadi to 1-Year Prison Term for Propaganda
News roundup
Good day, everyone! We've got some gripping stories for you today, spanning from the Middle East to Europe, and even a touch of Hollywood.
Britain’s Refugee Visa Rules Stranding Children in War Zones
UK Elections Predict ‘Electoral Extinction’ for PM Sunak’s Conservative Party
Italian Activist Ilaria Salis Returns Home After Election to European Parliament
Good morning!
England Faces Serbia in Euro Opener with Defensive Concerns
Dermatologist Warns Against Sunbed Usage
Fake Pro-Reform UK Social Accounts and Their Influence on Elections
UK Man Jailed for Non-Consensual Condom Removal
Reform UK Surpasses Conservatives in Historic Poll
US, Britain, Canada Accuse Russia of Interference in Moldova’s Election
Taylor Swift Fans Create Seismic Activity in Edinburgh
Sunak Aide Under Investigation for Election Bet
Labour Leader Starmer Focuses on Wealth Creation for Upcoming UK Elections
G7 to Use Frozen Russian Assets for $50 Billion Ukraine Aid
Anti-Israel Irish MEP Clare Daly LOST her seat in the EU Election
Johnson & Johnson Settles Talc Safety Claims for $700 Million
EU Urged to Welcome Skilled Russians to Weaken Putin
EU Elections Overview: Far-Right Gains and Major Political Shifts
Israel Rescues Four Hostages from Gaza
Emmanuel Macron Calls for Snap Election
Jordan Bardella: Young Far-Right Leader Poised for Future Political Influence in France
World's Oldest Privately Owned Book Auctioned for $3.8 Million