TSLA -2.59%, Eyes $438 Bounce
$Tesla Motors(TSLA)$
TSLA Dips -2.59%: Correction Hits Key Support at $438, Awaiting Rebound
Latest Close Data
Tesla closed at $438.07 on 2026-01-05, down -2.59% from the previous day. The stock is now approximately 12.2% below its 52-week high of $498.83.
Core Market Drivers
Price action reflects a continuation of the recent corrective phase, likely driven by ongoing sector rotation and profit-taking after a volatile year-end period.
Elevated short interest, as seen in recent days, may have contributed to the intraday selling pressure.
Technical Analysis
Volume was strong at 85.5M shares (Volume Ratio: 1.56), indicating conviction behind the sell-off.
The MACD (DIF: 4.88, DEA: 9.81, MACD: -9.85) remains in bearish territory, though the histogram is beginning to show a potential slowing of downward momentum.
The 6-day RSI at 23.29 indicates the stock is deeply oversold, which could set the stage for a near-term technical bounce.
Key Price Levels
Primary Support: $437.77 - The key level from 2026-01-02, which held on today's low of $435.30.
Strong Resistance: $446.77 - The immediate overhead supply zone from recent trading.
Immediate Pivot: $438.07 - Today's close will act as the initial pivot for next session's direction.
Valuation Perspective
Forward P/E stands at 210.55, significantly above its historical average of 119.29 and the +1 Std. Dev. of 188.93, indicating a premium valuation that remains sensitive to growth expectations.
Analyst Targets
Based on 42 analysts, the average price target is $383.62. The consensus recommendation is mixed, with 5 Strong Buy, 17 Buy, 20 Hold, 9 Underperform, and 2 Sell ratings.
Weekly Outlook
Expect consolidation near the $437-$446 range as the oversold condition is worked off.
A successful hold above $437 support could trigger a rebound towards $446. A decisive break below $435 could see a test of the next support near $425.
Risk Disclaimer
This analysis is for informational purposes only and not financial advice. Trading involves substantial risk. Past performance is not indicative of future results. Always conduct your own research.
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