Buy Tesla stock on correction with target at 345.00

Shares of Tesla (TSLA) are continuing their downtrend since the beginning of the week. On Monday, the stock fell more than 2.8% amid a general sell-off in the technology sector. By the end of February, the stock was down 28%. This is due to a sharp drop in sales of electric cars. Investors fear that demand will be negatively affected not only by the market situation, but also by Elon Musk's active involvement in politics.

In 2025, Tesla's vehicle deliveries may decline. This could create a favorable moment for long-term investors. This decline reflects the company's strategic shift from traditional car manufacturing to the development of artificial intelligence and robotics technologies.

From a technical point of view, TSLA remains within the descending channel on the H4 timeframe that formed after reaching the high of $488.08. The price reached the trendline support at $282.15 from where the local recovery began.

Currently, the third descending wave has been completed, and signs of transition to the fourth corrective ascending wave are forming. Growth is expected within the descending channel with the next target at the $345.00 level where the trend resistance passes.

On the H4 chart, candlestick patterns with long lower shadows are forming, indicating that the selling pressure is weakening. This may signal the beginning of an upward correction.

The Moving Average of Oscillator (parameters 12, 26, 9) shows that the downward impulse is weakening, and its values are coming out of the negative zone, confirming a possible upward movement.

The key support level remains at $282.15. A breach of it could intensify the downward movement with the next target at $259.80 (200.0% Fibonacci extension).

The short-term outlook for TSLA stock suggests buying with a target at 345.00. Partial profit taking is recommended at 304.00. A stop loss could be set at 236.00.

As the bullish scenario is short term, the trading volume should not exceed 2% of the total balance to reduce risks.