TSLA Analysis

TradingKey - Elon Musk strongly backed Republican candidates in the 2026 U.S. midterm elections but failed to prevent the Democrats from taking control of Congress, leaving his companies facing fresh market pressure. Over the past two trading sessions, share prices of Tesla (TSLA) and SpaceX (SPCX) fell consecutively, resulting in a cumulative market capitalization loss of approximately $456 billion.

TradingKey - On November 6, Eastern Time, Tesla (TSLA) shares rose 2.8% in pre-market trading to $353.3. In the previous trading session, Tesla shares fell 10.77% to close at $343.69.

TradingKey - On November 5, Eastern Time, Tesla (TSLA) shares fell sharply by 10.77% to close at $343.69, hitting an intraday low of $338.15, as trading volume rose to approximately 79.68 million shares. Following a 3.34% drop on November 4, the cumulative decline over the two trading days exceeded 13%. Compared to its recent intraday high of $414.23 on November 2, TSLA has pulled back roughly 17%.

TradingKey - On November 5, Eastern Time, SpaceX (SPCX) shares fell 9.05% to close at $123.62, marking a second consecutive trading day of declines and retreating about 29.9% from its October intraday high of $176.42.

TradingKey - On Thursday, November 5, Eastern Time, futures on the three major U.S. stock indices diverged. As of press time, Dow futures rose 0.65%, S&P 500 futures gained 0.23%, and Nasdaq 100 futures fell 0.49%.

TradingKey - Following the release of the U.S. midterm election results, the Democratic Party won control of both the Senate and the House of Representatives, ending the Republican Party's simultaneous control of the White House and Congress. Amid market concerns that the new Congress may tighten regulatory scrutiny on artificial intelligence, autonomous driving, and Elon Musk's businesses, Tesla (TSLA) fell over 5% in pre-market trading on Wednesday.

TradingKey - On November 4, Eastern Time, the three major US stock index futures rebounded after falling overnight.

TradingKey - The results of the 2026 US midterm elections have reshaped the balance of power in Congress. With the Democratic Party winning control of both the House of Representatives and the Senate, the Trump administration's policy leeway over the next two years will be further constrained. The new Congress will take office in January 2027, and businesses under Elon Musk may face heightened scrutiny.

TradingKey - As of the close on Monday (November 2) Eastern Time, Tesla (TSLA) shares rose again after three consecutive sessions of pullbacks, closing up 1% at $403.82 for the day after touching an intraday high of $414.23. In after-hours trading, the stock edged up further to around $405. Over the past two weeks, Tesla's stock price has rebounded significantly from its low of $349.33 on October 16, reclaiming the key $400 mark.

TradingKey - Tesla stock forecast: TSLA breaks out of a triangle above $388.85 as Cybercabs overtake Model Ys in Texas, with $411.90 the next hurdle on the 4-hour chart.