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Tesla Stock Has Tumbled From December Highs. What the Charts Say Happens Next. - Barron's

1. TSLA is in pullback mode after significant gains this past month. 2. Shares are down 18% from the Dec. 17 record high of $479.86. 3. Support levels identified around $350, with potential upside aiming at $480-$500. 4. S&P 500 and major indices also experienced declines recently. 5. Market technicians suggest patience is required due to current market sentiment.

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FAQ

Why Neutral?

The pullback indicates cautious sentiment, but support levels may attract buyers, similar to past corrections.

How important is it?

Market sentiment impacts TSLA; technician forecasts may guide short-term trading behavior.

Why Short Term?

Short-term trading plans center around identified support and resistance levels, not long-term fundamentals.

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