What We Know About Tesla as of Aug 18, 2018

Here is a daily chart of Tesla.


1. Channel (blue lines) in the making since the late 2016 rally. Confirmed by mid 2017 test of channel top and subsequent consolidation.

2. Violent down trendline (red line, left) break gave us the target (red down arrow).

3. 2nd down trendline (red line, right) break gave us test of all time high and rejected. Potential trendline breakout failure.

4. Channel support (orange zone) down at 260 to 280.

5. Interestingly, Tesla is still in daily uptrend.

Struggle around the 2nd down trendline likely until clean setup of a bottom formed on weekly, or, breakdown below support zone that points to a flush below 200 likely.