Tesla: does it benefit from the appearance in front of the White House by President Donald Trump and CEO Elon Musk along with new models of the EV? The price of Tesla stock has been in a significant slide ever since the two began showing up together in White House offices.
You don’t often see the chief executive officers of big USA-based corporations making Sieg Hail hand gestures in public. Enough investors may have decided that billionaire Musk may have pushed beyond the boundaries and this recent selling of Tesla stock may be one of the consequences.
Tesla stock charts show selling
The daily price chart:
Although buyers returned today, the price could not quite make it above Monday’s trading range high. This is the seventh straight day below the 200-day moving average and many, many days below the 50-day moving average which is now down-trending. The red-dotted line along the bottom of the chart shows where support may lie: the June and August 2024 lows. Note how the gap ups in October 2024 and in November 2024 (red-circled) both got filled during the March decline. Traders often keep an eye on gap ups and gap downs as targets.
The weekly price chart:
The price has slipped to below both the 50-week moving average and the 200-week moving average, not the most bullish of technical combinations. Although the selling has been intense since the beginning of 2025, the relative strength indicator (RSI, below the price chart) shows that it’s not yet hit the “oversold” level of early 2023.
Although the 50-week moving average crossed above the 200-week moving average in early January 2025, it may be difficult to sustain the momentum if selling persists.
The monthly price chart:
The monthly chart shows that the price has just dipped below the 50-month moving average and closed below it. The red-dotted line at the $100 level indicates the early 2023 low that may not become a support level should the selling continue. Note that the relative strength indicator (RSI, below the price chart) has diverged negatively from the direction of price.
The point-and-figure chart:
The point-and-figure charts presents price movement from a different perspective: you can see how extraordinary the moves both up and down have been for Tesla, from last year to the present. You get a sense of how the buying quickly and overwhelmingly became selling – and a sense of just how much the price has moved.
The stock bottomed at $182 and topped out at $488 – all in late 2024 and before 2025 had even begun. Since that top, the selling has been so relentless that Tesla has dropped below the blue uptrend line that had been established until this quarter.
More analysis and commentary at johnnavin.substack.com.
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