Tesla is down nearly 30% from recent highs, but the decline still looks corrective rather than impulsive. Price is now testing the 50%–61.8% Fibonacci retracement zone of the rally from the April 2025 lows. This area is key for structure, and early signs of stabilization suggest buyers may be attempting to step in. If support holds, a rebound into a final upward leg remains possible. A break lower would weaken the bullish setup and extend the correction.
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