Based

United

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Tesla’s stock price fell 5% in the last trading session.</a> </li> 
 <li> <span>2</span> <a>Price cuts on inventory cars are affecting TSLA’s share price.</a> </li> 
</ul> 
<p>The Tesla stock price has plummeted by 5.06% after TSLA decreased the price of some of its models in the United States and also declined the price of its driving assistance software. However, the price cuts differ according to the country.&nbsp;</p> 
<p>The price cuts were seen as a sign of weakening demand and profitability for Tesla, as it faces competition from other automakers and regulatory challenges in various markets.</p> 
<p>The price of Tesla stock (TSLA) persists in an uptrend beyond the significant moving averages and is indicating bullish momentum. On the daily charts, Tesla stock trades in the bullish territory and rides the uptrend above the 50-day EMA.</p> 
<p>Based on the price action, it appears that the stock is balanced for a significant upward trend, with probable growth in price in forthcoming sessions. Buyers are actively working to sustain these levels, indicating their commitment to the stock’s upward trajectory.&nbsp;</p> 
<p>However, in the past trading sessions, sellers showcased their strength to the buyers. Moreover, the buyers continued to make long positions and accumulated more of the stock; extending the uptrend. Tesla stock demonstrates the existence of buyers’ presence in the market.</p> 
<p>At press time, Tesla stock is trading at $245.01 with an intraday loss of 5.06%, showing bearishness in the last trading session. Likewise, the trading volume is 132.545 Million, and the market cap is $777.66 Billion.</p> 
<h2 class="wp-block-heading" id="strong-will-tesla-stock-decline-further-strong"><strong>Will Tesla Stock Decline Further?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/DvA2G8isPGlPE5MqRNpmylzgBvbJVx57rZI_96zVVf_TngvG4jy-lbj-nZ3oyA61k81nRBxcS59cjYqUlXYH6bzFnjA5qWh8cXeEdap4dGCGBpcigGFG6bpnU2FZTMkRlAmvkj5_b4y0FZcjka-U3g" alt="Tesla Stock Price Falls 5%: Will Price Cut Affect TSLA Share?"> 
  <figcaption class="wp-element-caption">
    Source: Tesla.1D.NASDAQ by <a href="https://www.tradingview.com/x/88YlTCm0/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The chart structure indicates that the movement is positive as of now and the stock is gradually taking support on 50 EMA, which is a subject of concern. Additionally, the sellers looked aggressive in the past few sessions. However, investors are displaying a strong willingness to pursue this upward movement.</p> 
<p><a href="https://www.thecoinrepublic.com/2023/08/31/tsla-stock-prediction-will-elon-mode-issue-affect-tesla-stock/" rel="noopener noreferrer nofollow">Tesla stock</a> (NASDAQ: TSLA) is trading above the 50 and 200-day EMAs, which are supporting the price momentum. Nevertheless, if more buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the Tesla price is expected to move upward giving bullish views over the daily time frame chart.</p> 
<p>The current value of RSI is 49.58 points. The 14 SMA is above the median line at 43.49 points, indicating that the Tesla stock is neutral. The MACD line at 90.34 and the signal line at 96.64 are above the zero line. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the TSLA stock price.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Tesla’s stock price is giving a neutral perspective as of now. The MACD, RSI, and EMAs are giving a neutral outlook on the stock price. However, any bad news or event will trigger a price fall. Investors and traders should wait for a proper setup for the next move and avoid FOMO.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> $224.80 and $191.53.</li> 
</ul> 
<ul> 
 <li><strong>Resistance Levels:</strong> $278.91 and $299.75.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

Tesla Stock Price Falls 5%: Will Price Cut Affect TSLA Share?

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Thecoinrepublic.com

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