Tesla Inc. shares declined 3.72% to $348.45 on August 24, 2026, extending losses from a Bearish Engulfing candlestick pattern formed on August 21 at $362.86, a key resistance level. The stock has traded within a consolidation range of $345.00 to $362.00, with the 50-period moving average at $328.49 and the 200-period simple moving average at $383.69.
Technical indicators showed the Relative Strength Index at 54.44, retreating from overbought territory, while Fibonacci retracement placed the 38.2% resistance level at $354.03. The SuperTrend and 20-period simple moving average combined to form a dynamic support zone between $338.00 and $345.00. The V-recovery finalization point, or bottom level, was identified at $297.46.
Four trading scenarios were outlined by InvestingPro and WarrenAI. An aggressive buy setup targeted an entry at $348.50 with a stop at $333.00 and three price targets at $366.00, $383.50, and $395.00, yielding risk-reward ratios of 1.75, 3.21, and 4.17, respectively. A conservative buy approach set an entry at $345.00 with the same stop and targets, but with risk-reward ratios of 1.80, 3.35, and 6.45.
On the sell side, an aggressive short entry was proposed at $348.00 with a stop at $372.00 and targets at $344.00, $328.50, and $297.50. A conservative sell strategy suggested an entry at $362.00 with an identical stop and targets. All scenarios carried a medium confidence rating.
The stock’s technical posture remains under pressure following the Bearish Engulfing formation, though support is noted near the $338.00–$345.00 zone.
