Will Tesla keep dropping?

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Will Tesla keep dropping?Tesla, Inc.BATS:TSLAbossout10Tesla's stock experienced a significant decline of 14% yesterday, primarily due to a public feud between CEO Elon Musk and President Donald Trump. This dispute has raised concerns about potential government actions that could adversely affect Tesla's operations. The conflict began when Musk criticized a proposed tax and spending bill, labeling it a "disgusting abomination." In response, President Trump threatened to terminate federal contracts with Musk's companies, including Tesla and SpaceX. This escalation led to a sharp drop in Tesla's stock price, erasing over $150 billion in market value and removing the company from the $1 trillion market capitalization club. Technical analysis indicates that Tesla's stock broke below key support levels, including its 50- and 200-day moving averages, suggesting a potential continuation of the downtrend. Analysts have identified support levels at $265, $215, and $170, with resistance around $365. Despite the recent turmoil, some analysts remain optimistic about Tesla's long-term prospects. Dan Ives of Wedbush Securities maintains a bullish outlook, citing upcoming innovations like Tesla's robotaxi service as potential growth drivers. However, challenges persist. Tesla faces declining sales in Europe, increased competition from companies like BYD, and potential regulatory hurdles stemming from Musk's political engagements. -Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial advice, investment recommendation, or an offer to buy or sell any securities. Stock prices, valuations, and performance metrics are subject to change and may be outdated. Always conduct your own due diligence and consult with a licensed financial advisor before making investment decisions. The information presented may contain inaccuracies and should not be solely relied upon for financial decisions. I am not personally liable for your own losses, this is not financial advise.