Tesla Forecast: Bearish Reversal Puts $330 Support in Focus

Tesla, Inc. (TSLA) has triggered a bearish reversal after extending its counter-trend rally to a high of $384.04, encountering strong resistance at its 61.8% Fibonacci retracement level of $381.11 and its 20-week moving average near $380. The stock subsequently closed lower, ending the week with a bearish shooting star candlestick pattern on the weekly chart. A confirmed move below the weekly low of $347.15 could accelerate downward momentum toward the primary support zone between $330 and $331, which aligns with the three-week low and the 61.8% Fibonacci retracement of the prior advance. Holding this zone would allow Tesla to form a higher swing low and potentially launch another leg higher within its larger channel toward the upper falling boundary. However, technical indicators warn that if the $330 support zone fails and price drops below the 78.6% retracement, the stock could face a more substantial correction toward the $274.64 support level, renewing the broader corrective downtrend.