Tesla's stock price has declined in 2024 due to several factors, including:
* Softer demand for EVs: The electric vehicle market is becoming increasingly competitive, and Tesla may be facing some challenges in maintaining its sales growth.
* Increased competition: Traditional automakers and new EV startups are investing heavily in developing their own electric vehicles. This competition could put pressure on Tesla's market share and profitability.
* Lower-than-expected delivery numbers: Tesla's Q1 2024 deliveries fell short of analyst estimates, which spooked some investors.
* Production challenges: Tesla has faced some production challenges in 2024, which have also contributed to the decline in its stock price.
recently cybertruck delivery is delayed without explanation. the suspect problem is bad accelerator pedal.
looking at the pnf chart, it looks like it has reached support level. however, looking at its candlestick chart, it has a gap at 146.41 to cover. it may not rush to cover the gap and make a technical rebound. this is a good zone to start accumulation.
$Tesla Motors(TSLA)$
do apply automatic investment system where you add shares at each 10% drop or at support zones if you know technical analysis. this way you conserve your capital while the stock is strongly downtrending. do take profit at 10% intervals or at resistance zones if you know technical analysis. this way you have capital to buy the dip. only applies to stocks in an index or warren buffett would approve. bon courage.
merci beaucoup@TigerStars @TigerWire @Asphen @koolgal
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