Stock of the day: Tesla

The spotlight on Thursday’s session was firmly fixed on the dramatic fallout between two of the most influential figures in American business and politics—Donald Trump and Elon Musk. What seemed like a promising partnership is now crumbling publicly, and the market took notice. Tesla, arguably the crown jewel of Musk’s business empire, felt the impact immediately, plunging nearly 15% in a single day.

The drop was swift and harsh, with the stock slicing through the $293 support level, marked with orange on the chart. While this was a painful blow for the bulls, the damage—so far—is not irreversible. The technical structure of Tesla’s chart still offers two key lifelines for buyers: the green support zone around $270, and the long-standing blue uptrend line that has guided price action for months.

A daily close below the blue trendline would be a game-changer, marking a breakdown in the long-term bullish narrative. But as of now, that hasn’t happened. This sudden drop appears to be largely emotionally driven—fueled more by headlines than by any shift in Tesla’s fundamentals.

If the price can stabilize above $270 and hold the uptrend, this could turn out to be a textbook example of a panic-induced dip being bought aggressively by opportunistic traders and long-term investors alike. Buyers should proceed with caution but keep a close eye on price action near the mentioned levels. A firm bounce off support could signal a strong recovery, especially if the broader market sentiment remains risk-on.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-tesla-22