Tesla Stock Bounces, But a Top Wall Street Bull Turns Cautious
Tesla stock is attempting a bounce, but the daily chart remains bearish. After closing at $322.08 on Monday, shares sit below all major daily moving averages. The post-earnings rally has sparked short-term enthusiasm, yet the higher-timeframe trend structure has not flipped.
Key takeaways
- Tesla stock closed at $322.08, below the EMA20, EMA50, and EMA200 on the daily chart
- Daily RSI at 36.83 reflects weak momentum without being deeply oversold
- Hourly momentum is bullish with RSI at 64.41, conflicting with the daily bearish structure
- Daily ATR14 of 16.33 signals elevated volatility remains the base case
- Tesla registrations in Italy dropped 77% in July, raising demand concerns
Tesla Stock Daily Structure: Still a Downtrend Beneath the Bounce
Yes, Tesla stock remains in a daily downtrend despite the bounce. Price at $322.08 sits below every major moving average, confirming a textbook bearish alignment.
On the daily chart, Tesla stock trades at $322.08, sitting below the EMA20 at $347.72, the EMA50 at $374.55, and the EMA200 at $392.32. That stacking of moving averages above price confirms the dominant trend has been down since the recent top. The current bounce has not yet damaged that structure.
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