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On the flip side, failure to break through might lead to further declines, especially if stock astrology patterns point downward. The alignment of these resistance lines creates a scenario where breaking or failing to break that barrier could determine Tesla’s near-term direction.
Fundamentals Are Still Key
While some traders rely on technicals and even astrology, others emphasize fundamentals. Investor sentiment, company delivery numbers, and profit margins are paramount. A key factor for Tesla is whether upcoming earnings can live up to expectations and whether delivery numbers support a higher valuation.