Tesla's Stock Extends Losses Below Key Technical Level

MarketWatch Pulse

Tesla Motors Inc.'s stock fell 2.4% in morning trade Wednesday to a five-week low, as its extends losses below a widely-watched technical level. On Tuesday, the electric car maker's stock closed below its 200-day moving average, which many chart watchers use to track the long-term trend, for the second-straight session. The last time the stock had back-to-back closes below the 200-day MA was Nov. 12, 2012. It was now trading 21% below the Sept. 4 all-time closing high of $286.04 -- many chart watchers believe declines of 20% or more define a bear market.

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