Earlier in the week, #Tesla briefly showed signs of a short-term recovery after closing above a short-term channel top on Wednesday. That move suggested a potential bounce toward the $421.20 area. However, the follow-through never materialized. Instead, #TSLA reversed lower and closed back below $402.64, confirming renewed downside pressure. With the most recent close at $395.01, Tesla is now trading below the key pivot at $407.82 (Wednesday’s settlement price). Remaining under this level keeps the near-term outlook bearish. The first major support lies at $390.12, which represents a long-term 3/8 Fibonacci retracement. The $390.12 level has repeatedly contained selling pressure over the past month and a half, with $TSLA occasionally dipping below it intraday but never closing beneath it. However, this level is now vulnerable to a breakdown. If Tesla closes below $390.12, the next downside targets are likely to unfold quickly: – $374.36 (next meaningful support, potentially reached within days to a week); – $360.49 (descending channel bottom, expected within 3–5 trading days after a break of $374.36); – $326.57 (major long-term support and the primary downside target over the next 2–3 months). The only near-term bullish trigger would be a close above $407.82. If $TSLA reclaims this level, it could spark a short-term bounce toward $421.20 within 1–2 days. However, even if that move occurs, the $421.20 area is expected to act as resistance and a potential short-selling opportunity, rather than a sign of a durable trend reversal. So, any rally back toward $407.82–$421.20 is viewed primarily as a short-term bounce within a larger downtrend, not a reversal of the broader sell signal. If you enjoyed this update, please like and share Watch the full #TSLA Trading Plan for Mar 13, 2026, in this short video