2TSLA : What's Going On With Tesla Stock?

Shares of Tesla, Inc. (NASDAQ:TSLA) are facing selling pressure Monday after multiple European countries reported falling demand for the company’s electric vehicles.

Tesla Hits Three-Year Low In France

According to the French Automotive Industry and Mobilities Platform, Tesla’s sales in France fell 42% last month to just 661 cars, which is the lowest in more than three years.

Registrations in Norway dropped almost 90% over the same period. Part of the European slump can be attributed to Tesla CEO Elon Musk‘s involvement in politics, in addition to the progress competitors like BYD and Stellantis are making.

According to a Bloomberg report, France was the third-largest market for EV registrations in Europe last year. And in January, Tesla sold fewer vehicles in France than Volkswagen AG’s Cupra or Stellantis NV’s Jeep brands.

Tesla’s overall sales in Europe also fell 27% last year, despite industrywide battery-electric vehicle registrations jumping 30% in the region, according to the European Automobile Manufacturers’ Association.

TSLA Shares Slide To Start The Week

TSLA Price Action: Tesla shares were down 2.01% at $421.80 at the time of publication on Monday. The stock is trading 16.0% below its 52-week high.

While Tesla’s vehicle sales have been under pressure, Tesla stock has performed well due to the company’s focus on AI, robotics and autonomy.

Tesla shares popped last week following reports that SpaceX has been discussing a potential deal with Tesla as some investors in the companies have expressed interest in the idea.

Tesla is trading 4.9% below its 50-day simple moving average (SMA) and 3.5% below its 100-day SMA, signaling a bearish trend in the short to medium term. Over the past 12 months, shares have increased by 10.00%.

The RSI is at 46.11, indicating a neutral position, while the MACD is below its signal line, reflecting bearish pressure on the stock. This combination suggests mixed momentum, with neither a strong bullish nor bearish signal dominating the technical landscape.

• Key Resistance: $452.50
• Key Support: $417.50

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