EXCLUSIVE: Tesla Bulls Are Bruised Not Beaten, Says Direxion's Egilinsky

Group 1 - Tesla's stock has declined nearly 38.5% year to date due to falling sales, increased competition, and political challenges [1][2] - Active traders believe the worst may be over for Tesla in the short term, despite the current downturn [2][6] - Tesla's stock is currently hovering at $237.27, with an RSI reading of 39.81, indicating it is approaching oversold territory [3][4] Group 2 - Technical indicators for Tesla stock are bearish, trading below its 8-, 20-, 50-, and 200-day simple moving averages, with a negative MACD of 12.37 [4] - CEO Elon Musk's political connections are influencing the stock's volatility, especially with the upcoming election season [5] - Some traders see potential for a short-term rebound, suggesting the stock may be oversold [6]