Tesla is struggling to find a price floor, as the electric automobile maker’s stock price struggles around the $400.00 level.
Tesla share price analysis shows that bears may attempt to close a price gap on the charts, around the $250.00 level, if the $350.00 support level is breached.
Tesla medium-term price trend
Tesla’s stock price is trading more than 50 per cent lower than its 2020 price peak, and around 35 per cent lower for the month of March.
Tesla share price analysis shows that sellers may target a key price gap on the charts, around the $250.00 level, that was formed during October last year.
Tesla stock technical analysis shows that a bearish triangle breakout has now played out to its full downside potential.
Overall, a move below the current monthly and yearly low, around the $350.00, could prompt the next major leg lower.
Tesla short-term price trend
Tesla stock analysis over the short term shows that bears are fully in control while the price trades below the $680.00 level.
The latest decline has created a substantial amount of bullish MACD price divergence that may need to be reversed.
According to the four-hour time frame, the bullish divergence extends towards the $600.00 resistance level.
The 30-minute time frame shows that a move above the $475.00 level could prompt a short-term recovery towards $600.00
On the downside, a breach of the $350.00 level could prompt a decline towards the $225.00 level.
Tesla technical summary
Tesla stock analysis highlights that a move below the $350.00 level could see the electric automobile maker’s share price falling towards the $250.00 to $225.00 technical area.