Deutsche Bank Fuels Tesla Decline: A Technical Look

shares were trading lower by $3.47 (1.5 percent) at $187.60 in Friday's session. The catalyst for the decline is an alert issued by Deutsche Bank on the issue. The firm cited concerns over near-term earnings based on the company's euro exposure. The issue, which had already been breaking down from a technical perspective, attempted to rally off a lower open but was turned back at $191.75. Since reaching that level, it has declined to $187.34 so far in Friday's session. See Also:

It is approaching a major support level that if breached may instigate another leg lower in the issue. That level comes in at its January 14 low at $185.00. The rally that followed to the $225.48 level was in part fueled by false takeover rumors that

was considering buying the company. If the $185.00 level is breached, the next minor support level may be found at its February 7 2014 low ($179.60).