Tesla (TSLA) Stock Underperforms the Broader Market

Analysing Tesla (TSLA) stock chart on 12th December, we:

→ Identified an ascending channel, with the November price consolidation around $350 (marked by a thick blue line) potentially indicating the median line of the long-term ascending channel (highlighted in blue).

→ Mentioned that TSLA stock price could move toward the upper boundary of the channel, located near the psychological level of $500. However, the stock remained vulnerable to a pullback with a potential test of the $400 level.

What happened after our analysis?

According to Tesla (TSLA) stock chart:

→ The price bounced off the upper boundary of the channel, falling short of the psychological $500 level by approximately 2.5%.

→ On Friday, TSLA stock dropped by more than 3%, making it the worst-performing stock within the S&P 500 index (US SPX 500 mini on FXOpen).

This indicates that buyer momentum may have waned, leading to a correction from overbought levels (as indicated by the RSI) toward fair value, which could align with the channel’s median line. A test of the $400 level could be relevant.

Meanwhile, Wall Street analysts are pessimistic. According to TipRanks:
→ Only 13 out of 34 surveyed analysts recommend buying TSLA stock.
→ The average price target for TSLA is $293.76 by the end of 2025.

Read detailed Analytical Tesla (TSLA) stock price forecasts for 2025–2030.

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