Analysis done on daily candles. Tesla has been one of the companies that suffered the most during this correction as it nearly got sliced in half from its all time highs. This has been the case with many companies that had questionable valuations in the recent years. From 2020-2021, Tesla's stock was at the forefront of the bull market, but their valuation was over a trillion dollars at one point, which was very concerning for a company that just started turning profit a few years ago. The company's massive multi year gain can be accredited to their infamous CEO Elon Musk, which proves that sometimes in the market popularity eclipses strong fundamentals, but that doesn't last forever. Companies that are overvalued must meet their fate when it comes time to correction, and we saw that unfold perfectly since the start of this year. In terms of the future, it's safe to say Tesla secured the hearts of many loyal customers, but car manufacturers rarely have robust profits that make them that valuable due to their extensive overhead. Yes, Tesla has a first movers advantage and a popular name, but they still to prove themselves against the rapidly increasing competition in the electric vehicle space. In terms of their robotics, this is a project that will burn through cash for years before it turns profit, so if you're in Tesla for that reason then expect to wait years before seeing robotics bring strong revenue. Looking at the chart, the correction took Tesla's candle below their 200 day MA for the first time since June of 2021, but buyers came in strongly at the 690.00 support, making that the most critical support going forward. The stock will need to climb its way back above the 200 day MA to be considered in safer territory.