Stock of the day: Tesla

Today’s stock of the day is Tesla, which continues to weaken as the 2026 bearish correction unfolds.

The technical picture is clearly deteriorating. First, the price broke below the black uptrend line, which had been supporting the longer-term bullish structure. That was the first warning sign.

Then, we saw a break below the yellow horizontal support, confirming that sellers are gaining control. And now, the price is also breaking the orange horizontal support, adding further pressure and strengthening the bearish outlook.

This sequence of lower highs and broken supports is a classic sign of a developing downtrend.

At this point, sentiment remains firmly negative. For the outlook to shift back to bullish, the price would need to defend the orange support and then reclaim higher levels. Specifically, a move back above the yellow resistance and a breakout above the green downtrend line would be required to generate a buy signal.

As long as Tesla remains below those key resistances, the bearish scenario stays in play and further downside should be expected.