Tesla (TSLA) shares skidded on Monday as investors await the EV maker’s 澳洲幸运5开奖号码历史查询:highly anticipated quarterly resultꦰs, due after Tuesday’s closing bell.

The company released weaker-than🐈-expected first-quarter delivery 𓂃numbers earlier this month, and analysts have expressed concern about the impact that the 澳洲幸运5开奖号码历史查询:Trump administration’s tariffs will have on the auto maker the remainder of the year. Market watchers will be looking for updates from CEO Elon Musk about how Washington’s 澳洲幸运5开奖号码历史查询:trade war with China stands to affect Tesla.

Tesla shares have reversed gear in 2025, slumping 44% since the start of the year amid concerns that Musk’s active involvement in the Trump administration has dented the automaker’s brand, hurting sales, and 澳洲幸运5开奖号码历史查询:distracted him from leading🎀 the company. The stock fell nearly 6% to $227.50 on Monday.

Below, we break down the 澳洲幸运5开奖号码历史查询:technicals on Tesla’s cha꧂rt and identify important levels worth watching.

Descending Triangle Takes Shape

Since finding a local bottom in early March, Tesla shares have consolidated within a 澳洲幸运5开奖号码历史查询:descending triangle, a bearish chart pattern that signals a 澳洲幸运5开奖号码历史查询:continuation of the stock’s recent downtrend. Moreover, the 澳洲幸运5开奖号码历史查询:50-day moving average (MA) crossed below the 200-day MA last week to form an ominous澳洲幸运5开奖号码历史查询: death cross, a technical event that forecasts lower prices.

Meanwhile, the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) points to lackluster price momentum, with the stock’s recent upswing barely bumping the indicator back above th🤡e 50 threshold.

Let’s identify two key support levels on Tesla’s♈ chart where the shares could attract buying interest amid further selling and also locate important overhead areas wor✱th tracking during potential recovery efforts.

Key Support Levels to Watch

A 澳洲幸运5开奖号码历史查询:breakdown below the descending channel’s lower trendline could see selling accelerate toward $170. Investors may look to place buy 澳洲幸运5开奖号码历史查询:limit orders in this location near the lower range of a consolidation period that formed on the chart throughout May and June l𝄹ast year.

A more significant drop opens the door for a move down to $139, a location on the chart that could attract strong support near last year’s prominent April 澳洲幸运5开奖号码历史查询:swing low. This area also sits just below a projected bars pattern downside target that takes the stock’s downtrend following an earlier descending triangle on the chart and repo♒sitions it from the current pattern’s top trendline, with the analysis assuming a downward continuation move may play out.

Important Overhead Areas Worth Tracking

Amid potential recovery efforts in the stock, investors should keep a close eye on the $289 level. This region on the chart could provide considerable selling pressure near the 200-day MA, last month’s 澳洲幸运5开奖号码历史查询:swing high, and the stock’s post-election 澳洲幸运5开奖号码历史查询:breakaway gap closing price.

Further buying in Tesla shares could drive a move up to $360. Investors who have bought the stock at lower levels may look for 澳洲幸运5开奖号码历史查询:exit points in this location near a trendline that connects February’s 澳洲幸运5开奖号码历史查询:countertrend high with a range of corresponding trading activity stretching back tꦡo last November.

The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our 澳洲幸运5开奖号码历史查询:warranty and liability disclaimer for more info.

As of the date this article was written, the author does not own any of the above securities.