Tesla Shares Drop 3.79% to $327.55 Extending Two-Day Loss to 6.06%

Tesla (TSLA) concluded the most recent session at $327.55, marking a 3.79% decline and extending its losing streak to two consecutive days, resulting in a cumulative 6.06% downturn. This downward momentum reflects growing bearish pressure, warranting a multi-faceted technical assessment of price dynamics and potential inflection points.
Candlestick Theory
The June 23rd bullish marubozu (high: $357.54, close: $348.68) signaled strong buying interest, but subsequent sessions revealed rejection at the $356 resistance. The current two-day bearish sequence—characterized by lower highs and closes near session lows—confirms distribution near $343. Immediate support resides at $320.4 (June 25th low), with a breach potentially targeting the June 17th swing low at $314.74. Resistance solidifies between $340–343, reinforced by June 20th-24th consolidation failures.
Moving Average Theory
The 50-day SMA ($295.3) maintains an upward trajectory beneath the price, preserving the intermediate-term uptrend. However, the current price ($327.55) dipping below the 20-day SMA ($333.8) signals short-term bearish momentum. Crucially, the 50-day SMA holds above the 100-day ($286.1) and 200-day SMA ($271.4), preventing a "death cross" and underscoring residual bullish structure. A sustained break below the 50-day SMA would amplify downside risks.
MACD & KDJ Indicators
The MACD (12,26,9) histogram shows consecutive negative readings, with the signal line overriding the MACD line—a classic bearish crossover. Concurrently, the KDJ oscillator (9,3,3) displays the %K line (24.7) plunging below the %D line (41.2), entering oversold territory below 30. This KDJ-MACD confluence validates accelerating downward momentum. While oversold KDJ readings often precede bounces, confirmation requires bullish reversals in both indicators.
Bollinger Bands
Price breached the lower Bollinger Band ($329.8, 20-day SMA ±2σ) on June 25th—a typical oversold signal. Bandwidth expanded 18% during the sell-off, reflecting elevated volatility supportive of directional moves. A close below the lower band historically precedes mean-reversion rallies, but failure to reclaim the 20-day SMA ($333.8) would signal continued bearish dominance. Watch for band contraction to signal volatility compression and potential breakout fuel.
Volume-Price Relationship
The June 5th capitulation event (14.26% decline on 292M shares) established a high-volume anchor. Recent declines occurred on rising volume (114M→119M shares), confirming distribution. Contrastingly, the June 23rd rally (+8.23%) saw higher volume (187M shares), suggesting absorption. Persistent volume on down days without commensurate buying interest at supports undermines bullish conviction.
Relative Strength Index (RSI)
The 14-day RSI (41.5) has retreated from near-overbought levels (67.8 on June 23rd), reflecting waning momentum. While approaching oversold territory (<30), its current position lacks historical reversal reliability—RSI spent 15 sessions below 30 during the April-May decline. Bearish divergence emerged as June’s higher highs lacked RSI confirmation. A rally above 50 is needed to neutralize bearish momentum.
Fibonacci Retracement
Drawing from the May 30th peak ($363.68) to the June 17th trough ($314.74), key Fibonacci levels materialize. The 38.2% retracement ($337.8) capped June 24th’s recovery attempt. Current price action tests the 23.6% level ($326.3), with a breakdown exposing the 61.8% retracement at $312.2. This zone converges with the $314.74 swing low, creating a high-probability support cluster. Bulls must reclaim the 38.2% level to invalidate the immediate downtrend.
Confluence and Divergence
Notable confluence exists between the $320–314 support zone (candlestick structure and Fibonacci 61.8%) and the oversold Bollinger breach. However, bearish divergence between price and RSI/MACD warns of unresolved downward momentum. The KDJ’s oversold reading aligns with volume-based distribution, suggesting any bounce may face resistance near $340–343 unless supported by volume expansion.
Probabilistically, Tesla exhibits short-term bearish momentum within a structurally intact intermediate uptrend. A rebound from the $314–320 support confluence appears plausible given oversold signals, but sustained trade below $314 would invalidate this thesis and target the 50-day SMA ($295.3). Bullish reversals require decisive closes above $343 with volume confirmation.