Tesla's Technical Breakdown Signals a Shift in Momentum Momentum
Tesla stock has fallen nearly 14% over the past month and is down over 21% year-to-date. This price action follows a signal triggered on Wednesday when the 50-day moving average slipped below the 200-day moving average. This technical event, known as a death cross, typically indicates that momentum has decisively turned negative. The breakdown is accompanied by rising inventory levels of over 50,000 unsold vehicles, as flagged by JPMorgan analyst Ryan Brinkman. Brinkman's $145 price target implies as much as 60% downside from the current levels.
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