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Tesla stock price has been on a successive three-day decline and the escalating trade tariff war has muddied the waters, signaling a potential extension of the downside. The stock had a scintillating run in the last quarter of 2024, propelled by optimism over the relationship between Tesla CEO Elon Musk and President Donald Trump. However, the readjustment of the market has shifted the momentum to the downside in reaction to the prevailing realities in the market. Tesla stock price is down by 15.2% year-to-date, with the bulk of the decline recorded in the last month. Tesla stock price has declined by -18% in February and trades below the 20 and 50-SMA levels on the daily chart. In addition, the 20-SMA recently crossed below the 50-SMA, adding weight to the downward momentum. US President Donald Trump reaffirmed that a 25% tariff imposition against Canada and Mexico and "reciprocal" tariffs against multiple trading partners will proceed starting next month. That could have far-reaching impacts, ranging from supply chain disruptions to high inflation. That scenario could lead to lower consumer purchase power and limit Tesla's sales figures. However, the excitement around its robotaxi test trials in Texas starting June this year will provide support and limit the downside. That said, commercial production of the self driving vehicles won't happen for at least another year. That means a greater focus will be placed on Tesla (NASDAQ: TSLA) sales figures in the medium term. Such a setup presents a challenge to Tesla stock price upside prospects in the current global business environment. Tesla Stock Price Prediction Tesla stock price pivots at $335 and an extended resistance at that level signals control by the sellers. Immediate support will likely be at $325, but a stronger downward momentum will break below that level, opening the path to test the second support at $320. Alternatively, the momentum will favour the upside if TSLA price breaks above $335. That could trigger movement to the first resistance at $338. Breaking above that level will invalidate the downside thesis, and potentially result in further gains to test the next hurdle at $343.

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RIO

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