When Tesla $TSLA fell below a common support at $245, I noted that there would be downside to $200. Tesla Inc. (TSLA) Finally Completes Price Top; $200 In Sight The trifecta of general risk aversion, the broken technical support, and continuing negative press pulled TSLA sharply towards $200, which was hit during the 5/20 session. Tesla in ‘Code Red Situation’ as Sell-Off Exceeds 20% TSLA Weekly Chart (click to enlarge) Support:- There were some support here at $200, a psychological level.- However, the $175-$180 area would be a more likely support as it was a common support from 2014 through 2016.- Even then, it will be tough to call a bullish target. We might see a period of consolidation, but the outlook is still bearish outside of a dead-cat-bounce.- I would anticipate continuing downside, or at least a long period of sideways consolidation without much upside, maybe around $200. - Tesla will need some significant structural changes before any support can be reliable.