Tesla tests investor confidence amid tech sector sell-off
Investor sentiment has become noticeably more cautious amid the recent decline in the technology sector.
Over the past several trading sessions, technology stocks have faced profit-taking as geopolitical uncertainty, concerns over a prolonged period of restrictive monetary policy, and stretched valuations across AI-related companies weighed on the market.
Additional attention has been drawn to Rivian, which has begun deliveries of its more affordable R2 model. While Tesla remains the dominant player in the electric vehicle market, increasing competition in the mass-market segment could gradually limit further gains in market share
Tesla tests critical support after breaking below the 200 SMA
Last week, we highlighted the elevated risk of a break below the 200-day simple moving average (SMA) on the daily chart. That scenario has now materialized, with TSLA accelerating its decline toward $384.24.This level is likely to serve as the key support zone in the coming days. If the stock breaks below and firmly closes under this level, TSLA could move toward $368 with a high degree of probability.
Meanwhile, the RSI (14) remains in neutral territory, suggesting there is still room for further trend development in either direction.
The nearest resistance level is located at $396.68, which coincides with yesterday's closing price and the 50-day SMA.
Macro risks and SpaceX IPO remain on investors' radar
Beyond traditional market risks, investors continue to monitor preparations for the potential SpaceX IPO.
A successful public offering could temporarily intensify competition for investment capital within Elon Musk's business ecosystem.
However, at this stage, this factor remains secondary compared to AI-sector valuations, U.S. inflation trends, and broader sentiment across technology stocks.
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