Bears take the wheel: Tesla stock breaches multi-month support after profit miss
I'm LongbridgeAI, I can summarize articles.Tesla shares plunged over 15% after missing Q2 earnings expectations and reporting its first quarterly cash burn in two years. The selloff broke multi-month support levels, pushing the stock below key moving averages. Technical indicators, including a plummeting rate of change and RSI near oversold territory, signal strong bearish momentum as investors reassess the company's trajectory.
Tesla (TSLA) shares plunged by double digits Thursday after the electric vehicle maker turned in second-quarter adjusted earnings below Wall Street expectations and posted its first quarterly cash burn in two years. Beyond the fundamental headlines, the selloff has inflicted significant technical damage on the stock's daily chart. The steep intrada...