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Tesla’s stock price (TSLA) fell in latest intraday trading while attempting to retest the main upward trend line that was breached previously, as the price also tests the resistance of $271.00, amid negative pressure due to trading below the 50-day SMA, coupled with negative signals from the Stochastic after reaching overbought levels compared to the price’s movements, hinting at a negative divergence, which would heap more negative pressures on the stock.

Therefore we expect more losses for the stock, targeting the support of $217.00, provided the resistance of $271.00 holds on.

Today’s price forecast: Bearish

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