Nonetheless, it might not be entirely bleak for Tesla, as a series of new catalysts could be rejuvenating the stock’s long-term bullish outlook.

The opportunity ahead of it is likely a big reason why Tesla's stock price has climbed 12% since August 1. This move was large enough for Tesla shares to recapture their 200-day moving average and attract the attention of Fundstrat's Head of Technical Strategy, Mark Newton.