Tesla (TSLA) shares fell again Monday, extending a recent slump that has made the stock the weakest performer in the 澳洲幸运5官方开奖结果体彩网:Magnificent 7 so far in 2025.

Tesla shares have tumbled 18% year-to-date as investors asses the impact of 澳洲幸运5官方开奖结果体彩网:potential tariffs and the removal of EV incentives on the automaker’s business. However, the stock remains 31% higher since the early-November U.S. presidential election on expectations that CEO 澳洲幸运5官方开奖结果体彩网:Elon Musk’s close ties with President Donald Trump will benefit the comp🌼any.

Below, we take a closer look at the 澳洲幸运5官方开奖结果体彩网:technicals on T💫esla’s chart and identify key price levels that investors 🔴may be eyeing.

Head and Shoulders 🌊P♚attern Adds Downward Pressure

Tesla shares have continued to trend lower after breaking down below the 澳洲幸运5官方开奖结果体彩网:50-day moving average (MA) and neckline of a 澳洲幸运5官方开奖结果体彩网:head and shoulders pattern earlier this month.

While the澳洲幸运5官方开奖结果体彩网: relative strength index (RSI) has recovered slightly from near oversold levels, the indicator stil෴l gives a reading below 40, signaling bearish price momentum.

Looking ahead, investors should keep an eye on two key 澳洲幸运5官方开奖结果体彩网:support levels where Tesla shares may attract buying interest and also monitor a few important overhead areas that could provide 澳洲幸运5官方开奖结果体彩网:resistance during potential upswings.

Key Support Levels to Watch

Tesla shares closed 2.2% lower at $33🐻0.53 on Monday.

Upon further selling, investors should initially keep an eye on the $325 level, which was briefly breached on Monday. This area on the chart could provide support near the February low, which also closely aligns with the lower range of a 澳洲幸运5官方开奖结果体彩网:consolidation period situated ꩲjust under the ✃head and shoulders’ left shoulder.

The bulls’ failure to defend this level could see the shares fall to around $265. Investors may view this region as a buying opportunity, given its current proximity to the closely watched 澳洲幸运5官方开奖结果体彩网:200-day MA and a trendline that connects multiple peaks on the chart extending back to September 2023.

This area also sits just below a projected bars pattern downside target that takes the stock’s 澳洲幸运5官方开奖结果体彩网:downtrend from mid-January to early February and overlay’s it from this month’s 澳洲幸运5官方开奖结果体彩网:countertrend high. Such a move would complete an 澳洲幸运5官方开奖结果体彩网:Elliot Wave pattern wit♚h five distinct swings before a corrective phase typically occurs.

Important Overhead Areas to Monitor

During upswi♏ngs in the stock, investors should initially keep track of the $430 area. The shไares could face selling pressure in this region near the head and shoulders’ right shoulder.

Finally, a close above this level may propel a move to around $489. This chart location would likely attract significant attention near the stock’s 澳洲幸运5官方开奖结果体彩网:record high, which also d🌱oubles as the peak of the head and shoulders pattern.

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