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Tesla stock is heading into the final stretch of November under intense pressure. The month began with optimism after Nvidia’s blockbuster earnings briefly lifted tech sentiment. Tesla even spiked intraday as traders tried to reconnect the company to the fast growing AI trade. That excitement evaporated quickly. Sellers took control into the close and the gains collapsed. What looked like a promising rebound has turned into a stubborn selloff that has wiped out 13 percent of Tesla’s value this month. The decline is especially painful for retail investors who jumped in expecting a November rally. Buying the dip has historically been rewarded in Tesla. This time the strategy has delivered a fresh round of losses. The stock is trading lower year to date and remains well below its mid month high near 429. Why Tesla Stock Is Falling in November Retail investors rotated aggressively into Tesla during November. Many believed the stock had bottomed after strong recoveries earlier this year. Instead the slide accelerated. Tesla has now erased most of its post earnings progress and is once again lagging the broader tech market. A big challenge is the lack of fresh catalysts. Traders are waiting for signs that delivery growth is picking back up and that new products like Cybertruck are gaining traction. Until the data improves buyers are stepping back and short term traders are dominating price action. Tesla Chart Analysis: Why 390 Remains a Crucial Line in the Sand Tesla’s chart tells the story clearly. The stock is hovering around 395 but the real battleground is near 390. That level has acted as support several times this month. When the price dips below it buyers have been quick to defend it. Think of support as a floor. As long as the floor holds the house does not collapse. If Tesla closes repeatedly under 390 the floor breaks and downward momentum could build rapidly. The next major floor sits near 370 and losing that would confirm a deeper correction trend. Tesla’s daily chart shows the stock testing key support near 390 after a sharp November decline from recent highs around 450. Source: TradingView For resistance the mid Bollinger band around 405 has become a ceiling. Tesla keeps bumping into that line and failing to break through. To beginner traders the Bollinger middle line is a guidepost showing whether momentum is favoring buyers or sellers. Trading under it signals weakness. Regaining it would be a first step in stabilizing sentiment. Right now the price is stuck in the lower half of the range which shows caution still dominates trading behavior. Elon Musk Compensation Case Adds Pressure to Tesla Stock Even though the selloff is driven mainly by market sentiment, a looming legal ruling over Elon Musk’s compensation adds another layer of uncertainty. A negative decision could force Tesla to book a massive expense that would weigh on profits. For long term investors this remains a serious wildcard that could shape the company’s financial trajectory. My view is that Tesla still commands enormous long term potential but markets are no longer willing to buy the story without seeing real execution. If autonomy scales and earnings expand the current dip may later look like a rare opportunity. Until that happens traders will continue to test just how strong the floor at 390 really is. Why is Tesla stock falling Tesla shares are slipping because November saw weak demand signals, margin pressure and fading excitement around the AI narrative that briefly lifted tech stocks. Investors are hesitant to buy aggressively until delivery trends and earnings growth show clearer improvement. Will Tesla Stock Price ever go back up A sustained recovery is likely if autonomous driving revenue, software upgrades and production efficiencies start translating into stronger profits. The long term story remains attractive, but buyers now want proof before giving the stock another major rally. Tesla stock price prediction for 2026 If execution improves and the company reclaims market leadership in EVs and autonomy, analysts see potential for a strong rebound back toward the mid 500s. Failure to restore growth could leave the stock stuck in a lower trading range near the high 300s to low 400s depending on market conditions.