Tesla Tests $393 Support After 3% Bearish Engulfing Drop

Tesla fell about 3% to the $395 area on July 13 after printing a bearish engulfing candle on the 4-hour chart, now testing the critical $390–$393 support zone while trading below the 20MA and 50MA. Despite the near-term weakness, the stock remains in a rising weekly channel as long as $368.60 holds. Q2 earnings on July 22 are the next major catalyst that could trigger either a reversal or a deeper pullback toward $358.66. Analyst views remain mixed, with RBC raising its target to $500 while Barclays maintains a $360 Equalweight rating.