Tesla (TSLA) shares skidded on Monday as investors await the EV maker’s 澳洲幸运5官方开奖结ꦦ果体彩网:highly anticཧipated quarterly results, due after Tuesday’s closing bell.

The company released weaker-than-expe🦩cted first-quarter delivery numbers earlier this month, and analysts have expressed concern about the impact that the 澳洲幸运5官方开奖结果体彩网:Trump administration’s tariffs will have on the auto maker the remainder of the year. Market watchers will be looking for updates from CEO Elon Musk about how Washington’s 澳洲幸运5官方开奖结果体彩网:trade war with China stands to affect Tesla.

Tesla shares have reversed gear in 2025, slumping 44% since the start of the year amid concerns that Musk’s active involvement in the Trump administration has dented the automaker’s brand, hurting sales, and 澳洲幸运5官方开奖结果体彩网:distracted him from leading the companꦆy. The stock fell nearly 6% to $227.50 on Monday.

Below, we break down the 澳洲幸运5官方开奖结果体彩网:technicals on Tesla’s chart and identify important levels w💟orth watcꦡhing.

Descending Triangle Takes Shape

Since finding a local bottom in early March, Tesla shares have consolidated within a 澳洲幸运5官方开奖结果体彩网:descending triangle, a bearish chart pattern that signals a 澳洲幸运5官方开奖结果体彩网:continuation of the stock’s recent downtrend. Moreover, the 澳洲幸运5官方开奖结果体彩网:50-day moving average (MA) crossed below the 200-day MA last week to form an ominous澳洲幸运5官方开奖结果体彩网: death cross, a technical event that forecasts lower prices.

Meanwhile, the 澳洲幸运5官方开奖结果体彩网:relative strength index (RSI) points to lackluster price momentum, with the stock’s recent upswing b🅰arely bumping the indicator back above the 50 threshold.

Let’s identify two key support levels on Tesla’s chart where the shares cou🎶ld attract buying interest amid further selling and also locate important overhead areas worth tracking during potential recovery efforts.

Key Support Levels to Watch

A 澳洲幸运5官方开奖结果体彩网:breakdown below the descending channel’s lower trendline could see selling accelerate toward $170. Investors may look to place buy 澳洲幸运5官方开奖结果体彩网:limit orders in this location near the lower range of a co♎nsolidation period that formed on the chart throughout May and June last year.

A more significant drop opens the door for a move down to $139, a location on the chart that could attract strong support near last year’s prominent April 澳洲幸运5官方开奖结果体彩网:swing low. This area also sits just below a projected bars pattern downside target that takes the stock’s downtrend following an earlier d☂escending triangle on the chart and repositions it from ꦑthe current pattern’s top trendline, with the analysis assuming a downward continuation move may play out.

Important Overhead Areas Worth Tracking

Amid potential recovery efforts in the stock, investors should keep a close eye on the $289 level. This region on the chart could provide considerable selling pressure near the 200-day MA, last month’s 澳洲幸运5官方开奖结果体彩网:swing high, and the stock’s post-election 澳洲幸运5官方开奖结果体彩网:breakaway gap closing price.

Further buying in Tesla shares could drive a move up to $360. Investors who have bought the stock at lower levels may look for 澳洲幸运5官方开奖结果体彩网:exit points in this location near a trendline that connects February’s 澳洲幸运5官方开奖结果体彩网:countertrend high with a range of corresponding trading activity stretching back to last Novඣember.

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