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Photo AP / Jae C. Hong
- Tesla shares fell nearly 5% Monday morning to their lowest level since January 2017.
- A Wall Street strategist claims that technical damage has been done and that there is no real support up to the $ 188 level.
- Tesla shares traded at $ 229 Monday morning.
- Watch Tesla's trade live.
The bad news for Tesla shareholders continues to worsen.
Strong Monday morning sales pulled the stock down by 4.44% to $ 229, their lowest level since January 2017. The stock is on track for a fifth consecutive day of losses.
A glance at the graph shows that Tesla's technical image is not very beautiful. Shares of the electric car maker fell thanks to key support at the $ 250 level at the end of last month and were unable to recover.
According to Matt Maley, general manager and equity strategist at Miller Tabak, it seems that the pain will continue. He told Markets Insider by e-mail that the title "broken significantly below his 200 the week moving average "for the first time in over four years, adding that he does not see any solid support" until you reach the lowest end of 2016, or $ 188 ".
Tesla shares have been under pressure in 2019, but have fallen 22% since the company announced disappointing shipments in the first quarter on April 3rd. A huge loss in the first quarter and a capital increase also weighed on some Wall Street analysts.
Tesla is down 32% this year.
Insider Markets
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