Automotive giant Tesla Inc. (NASDAQ: TSLA) is heading into its next earnings report at the end of January with momentum suddenly working against it. After finally hitting fresh all-time highs just before Christmas, the stock has since logged its longest run of red days in months and is now down more than 12%. For a name that spent much of last year grinding higher, this has been a jarring start to 2026.
Technically, the picture has deteriorated in the short term. The stock’s MACD printed a bearish crossover last week, while its relative strength index is very much in oversold territory. That said, the longer-term uptrend remains intact. A rising support line that has been in place since before last summer is still holding, and breaking it would require a clear escalation in selling pressure that has not yet materialized.
