For the time being, the stock of Tesla (TSLA) has found support in the charts.
After a brutal piece this month that brought the year-to-date decrease in the share to more than 30% to more than 30% at a given moment, the Tesla shares appear to collect above the 100-day progressive average, shows Data from Yahoo, according to data from Yahoo. The 100-day advancing average is an important measure of sentiment in the longer term.
Retaining the 100-day average comes on Thursday after a bouncing of almost 6%. Shares rose by approximately 1.5% in pre-market trade on Friday.
“Sentiment was way too negative – the best is still for Elon Musk,” said Wedbush analyst Dan Ives Me.
Tesla remains one of the top choices of Ives for 2025.
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Shares have still fallen by 12% years so far and the worst performing part of the “Magnificent Seven” apple (AAPL), Amazon (AMZN), NVIDIA (NVDA), Google (Google), Microsoft (MSFT), Meta (Meta (meta (meta (meta (meta (meta (meta) and tesla (meta.
The decrease is with good reason from a fundamental perspective.
Tesla sold 63,238 vehicles in China in January, according to data released this week by the China passenger Car Association. The figure marked a steep fall of 33% from December.
At the same time, the Australian electric vehicle council reported that the total turnover of Tesla fell 33% year on year in January.
In the US, prices remain on used cyber trucks, Model 3S, Model SS, Model YS and Model Xs, while Tesla is confronted with an increased EV competition and consumers opt for hybrids.
In the last 30 days, the average price of a Tesla has fallen 1%, according to data from Cargurus. That brings the decline in the last 90 days to 5.49%. The fastest price decreases are seen in the cyber truck.
“We are careful with what is happening for the EV -maker,” said Oppenheimer analyst Colin Rusch about the domination of Yahoo Finance.
In the meantime, new rates from the Trump administration are to increase the costs for Tesla and other car manufacturers.
On Monday, the President signed two executive orders that imposed extra 25% rates on steel and aluminum. Both steel and aluminum are important raw materials used by Tesla.
Trump’s new trade war with China does not help either – a 2023 study by Nikkei showed that 40% of suppliers used in Tesla’s batteries are Chinese companies.
Tesla’s fourth quarter left a lot to be desired.
The profit per share of the company missed analysts of analysts by a cent. The sale of Automotive fell 8%year after year, in addition to price reductions in the Tesla vehicle setup.
Tesla’s share slide did not put others on the street next to Ives to defend the company.
