Tesla shares are getting closer to their May and June lows in the 206-210 range. The general negative background in the financial markets does not allow the manufacturer of electric vehicles get its head above water. Nevertheless, a number of factors speak in favor of stopping the current wave of rate cuts.
The Doji Star pattern can help reverse this trend. In addition, the RSI indicator fell into oversold territory for the first time since the end of May, when previous lows were set. Good figures in the quarterly report, which will be released on October 19, can also add positivity.
In case of upward rebound, the targets will be at levels 250 and 265.
This content is for informational purposes only and is not intended to be investing advice.
