(Finance) – The stock is moving downwards Tesla Motorsdown 3.02% on previous values.
The decision taken by Elon Musk’s car company to reduce the prices of its best-selling vehicle, the Model Y SUV, to dispose of inventory contributes to weighing on the shares. These cuts follow those already adopted in recent months, again for the Model Y.
The weekly analysis of the stock compared toS&P 100 shows a weakening compared to the index in terms of relative strength of thecompany active in the automotive sectorwhich performs worse than the reference market.
The short-term scenario of Tesla Motors highlights a decline in prices towards the 160.7 USD area with the first resistance area seen at 171. Expectations are for a widening of the negative phase towards the support seen at 155.4.