Tesla Sales Collapse in Europe and China: Declining Deliveries Fuel Price Slump

Tesla Sales Collapse in Europe and China: Major Sales Drops Shake Investor Confidence

Tesla’s declining fundamentals have contributed to its poor price performance. In several key regions, the corporation reported significantly reduced delivery numbers. In February, Tesla’s sales in China fell 11% year over year.

Europe did considerably worse, with France and Germany reporting drops of more than 45% year over year. In the United States, the revival of traditional automakers with more competitive electric and hybrid vehicles has gradually reduced Tesla’s market share.

Tesla Teeters on the Edge: RSI Nears Oversold as Bears Take Control

The market’s overall bearish sentiment is highlighted by the almost 48% year-to-date loss in Tesla equities. On April 12, intraday trading witnessed a high of $257.47 and a low of $241.45. It demonstrates the stock’s vulnerability to significant price fluctuations. A protracted downward trend and ongoing selling pressure are indicated by the 50-day moving average’s decline to about $263 and the 200-day moving average’s even higher level.

Caution is also reflected in technical indications. The fact that the Relative Strength Index (RSI) is still close to 42 indicates that Tesla is getting close to oversold territory without yet indicating a reversal. Right now, resistance is seen at the $265 mark, which corresponds to the 50-day moving average. The following leg down might challenge support at $235, the most recent intraday low, if TSLA is unable to break above this level in the upcoming sessions.

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