TradingShot’s chart marks a conditional Tesla share threshold at $260 or below, but supplies no date for a move to that level within the current pattern.
In TradingShot’s reading, a recent high was turned back beneath Tesla’s 50-week moving average again, adding another lower peak to a descending channel stretching across about a year. A bearish crossover on the daily moving average convergence divergence (MACD) indicator also figures in its negative momentum reading.
TradingShot expects the 100-month moving average to act as support during the decline. The chart points to two past selloff legs, each of which bottomed near a 1.382 Fibonacci extension.
In the chart’s sequence, the $260-or-lower marker comes before the buy zone TradingShot identifies within the channel. The analysis assigns no date to the downside level. Tesla has issued no such price outlook; the $260 marker is TradingShot’s interpretation of its chart.
