Generation

Million

Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Tesla Inc (NASDAQ: TSLA) announced its Q2 results after the market closed on Wednesday, July 19, 2023, resulting in the Tesla stock price dip.</a> </li> 
 <li> <span>2</span> <a>TSLA shares have slipped below the 20-EMA and remain above the 50, 100 and 200-days Daily Moving Average.</a> </li> 
 <li> <span>3</span> <a>Hours before earnings dipped, Cathie Wood sold off $21 Million worth of Tesla stock. </a> </li> 
</ul> 
<p>Tesla stock price is facing correction after being overbought and started slipping, just after announcing its Q2 results on 19th July. Tesla shares have been preferred largely by Cathie Woods, and it seems like Woods was aware about the current correction in the Tesla stock price. This is because Woods sold $21 Million worth of Tesla shares, two days prior to Tesla’s Q2 earnings report.&nbsp;</p> 
<p>On July 17, Monday, 38,329 shares of Tesla were sold, and on July 18, Tuesday, 24,189 shares were sold, by her flagship Ark Innovation ETF (NYSEMKT: ARKK). Overall, close to $18 Million was spent on these trades.&nbsp;</p> 
<p>Additionally, on Monday and Tuesday, the Ark Next Generation Internet ETF (NYSEMKT: ARKW) sold 6,855 and 4,470 shares of Tesla, respectively. About $3 Million was produced by the two sales. In the 72 hours leading up to Tesla’s Q2 release, Wood’s ETFs sold about $21 Million worth of the company’s stock.&nbsp;&nbsp;</p> 
<p>Now let us move back towards the technical analysis of Tesla share price which will acknowledge us about Tesla stock price prediction 2023. Analysts believe the Tesla share price may revert back from the primary support zone over the daily time frame chart. However, sellers may try to pull Tesla share price downwards.&nbsp;</p> 
<p>Tesla stock price was at $260.02 and lost 1.10% of its market capitalization during Friday’s trading session. Trading volume was above average under full influence of sellers, and it needs to fall back in favor of buyers during Monday’s trading session.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-tesla-stock-price-sustain-or-get-detained-strong"><strong>Will Tesla Stock Price Sustain or Get Detained?&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/t61KYJFs5KgH8FfoITDZOvDk9mxUJDW6S-h0HYi4vG085xak-s-U5_t_37de6nr1RuoEnPFHabZZ3EYEOQXj0JKSmtywx6pQAa3YwIkOQsKrHyUxq52wBfCxxdXmtSlHQY_E75U1iSA3KLVbQ2qL_0g" alt="Tesla Inc: Why Tesla Stock Price Slipped After Q2 Earning Report?"> 
  <figcaption class="wp-element-caption">
    Source: NASDAQ: TSLA by <a href="https://www.tradingview.com/x/tNBKA5HI/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p><a href="https://www.thecoinrepublic.com/2023/07/05/tesla-inc-price-prediction-will-tsla-resume-its-upward-rally/" target="_blank" rel="noopener noreferrer nofollow">Tesla stock price</a> has been facing correction and is returning from the overbought territory after the release of its Q2 earnings. Analysts believe the TSLA stock price needs to accumulate buyers in order to sustain at the current level and revert back. Moreover, TSLA shares may sustain above the $250 support zone to revert back towards the $280 mark. However, sellers may approach to short the TSLA shares during Monday’s trading session.&nbsp;</p> 
<p>For the time being, Tesla stock price has gained 3.69% in a month and 57.78% in the last three months. Moreover, Tesla shares rose to around 91.37% in the last six months. Tesla share price has soared around 119.48% year-to-date, suggesting the maximum recovery of TSLA shares during 2023.&nbsp;</p> 
<p>Technical indicators suggest the downfall of the Tesla stock price. Relative strength index showcases the downtrend momentum of TSLA shares. RSI was at 48 and is below neutrality to be oversold.&nbsp;</p> 
<p>MACD exhibits the downward velocity of TSLA stock. The MACD line is below the signal line after a negative crossover. Investors in Tesla Inc (NASDAQ: TSLA) need to wait for any directional change over the daily time frame chart.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>After being overbought and beginning to decline immediately following the release of its Q2 earnings on July 19, Tesla stock price is now experiencing a correction. By her flagship Ark Innovation ETF, 38,329 shares of Tesla were sold on July 17, Monday, and 24,189 shares were sold on July 18, Tuesday. After the announcement of Q2 earnings, the price of Tesla stock has been experiencing a pullback and is moving back from an overbought area. In addition, Tesla stock increased by almost 91.37% over the previous six months. Technical signs point to the <a href="https://www.thecoinrepublic.com/2023/07/05/tesla-inc-price-prediction-will-tsla-resume-its-upward-rally/" target="_blank" rel="noopener noreferrer nofollow">share price of Tesla declining.</a></p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $253 and $245</p> 
<p>Resistance Levels: $270 and $280</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Tesla Inc: Why Tesla Stock Price Slipped After Q2 Earning Report?

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