US midterm election results create selling pressure on Musk's companies

The initial results of the US congressional midterm elections, which painted a strong picture in favor of the Democrats, led to selling pressure on Elon Musk's companies. Tesla and SpaceX shares fell by up to 5% in after-hours trading. Uncertainties regarding artificial intelligence regulations and concerns about potential merger plans came to the fore in the decline. Following the election results, it was observed that investors reassessed their risk perception towards Musk's companies. The sharp price movements in after-hours trading revealed the impact of political developments on company valuations in the technology and space sectors. The decline in Tesla and SpaceX shares was interpreted as the market's reaction to regulatory and strategic uncertainties. Not investment advice.

📊 TSLA — Piyasa Yorumu

▼ down · 55%

The news headline implies that by-election results have created selling pressure on Musk's companies; such political uncertainties can be perceived as negative in the short term. Technical indicators are already weak: the price is below the SMA20 and SMA50, the MACD is below the signal line, and the RSI at 44.6 is in the neutral-weak zone. The 24-hour change of -1.7% confirms the selling trend. However, since the RSI is not in oversold territory, the decline may remain limited; therefore, although the direction is downward, confidence should be kept at a moderate level. In the short term, the 395-400 band should be monitored as critical support.

RSI 14

44.6

MACD

-0.56

24h Δ

-1.71%

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