Reported 1 day ago
According to Rich Ross, a top technical strategist, Tesla stock appears to be in an 'extremely oversold condition' after dropping 41% this year. With a relative strength index of 32, Ross indicates that significant bad news has likely been priced in, while little positive news is considered. However, despite these technical signals suggesting a potential bounce, Tesla faces challenges from weak sales data in key markets and intensifying competition in the electric vehicle sector.
Source: YAHOO