Tesla Crashes After Hitting Key Resistance, Disappoints Breakout-Hungry Bulls: Will The EV Maker Fall To $200?
Portfolio Pulse from Piero Cingari
Tesla shares experienced a tumultuous week, with a 1.3% decline and huge daily swings, ending a five-week positive cycle. The stock hit key resistance at $279, disappointing bulls and fueling downside pressures. Technical analysis suggests potential further downside, with support levels at $235 and $190-$200.

June 23, 2023 | 8:18 pm
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Microsoft was among the week's underperformers among U.S. mega-cap tech stocks.
Microsoft was mentioned as one of the underperformers among U.S. mega-cap tech stocks this week, along with Tesla and Netflix. This suggests that the stock may have faced some downward pressure during the week.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Netflix was among the week's underperformers among U.S. mega-cap tech stocks.
Netflix was mentioned as one of the underperformers among U.S. mega-cap tech stocks this week, along with Tesla and Microsoft. This suggests that the stock may have faced some downward pressure during the week.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Tesla's stock experienced a 1.3% decline this week, hitting key resistance at $279 and ending a five-week positive cycle. Technical analysis suggests potential further downside, with support levels at $235 and $190-$200.
Tesla's stock hit key resistance at $279, ending a five-week positive cycle and disappointing bulls. Technical analysis, including a red weekly candlestick and a daily RSI indicator at severely overbought levels, suggests potential further downside. Support levels at $235 and $190-$200 could attract bears and lead to a decline in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust was mentioned in relation to the underperformance of Tesla, Microsoft, and Netflix among U.S. mega-cap tech stocks.
The SPDR S&P 500 ETF Trust was mentioned in the context of the underperformance of Tesla, Microsoft, and Netflix among U.S. mega-cap tech stocks. The ETF's performance may be indirectly affected by these stocks, but the article does not provide enough information to determine a clear short-term impact.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 25