Tesla posted underwhelming earnings and the share price is falling sharply. Here's a summary on the earnings report from CNBC:Tesla falls after posting wider-than-expected lossHere’s what Tesla reported, versus what analysts expected based on average estimates compiled by Refinitiv: Loss per share on an adjusted basis: $1.12 vs. 40 cents expectedRevenue: $6.35 billion versus $6.41 billion expected That compares with an adjusted loss of $3.06 per share on $4 billion in revenue during the same period last year. Although the electric car company fell short of analysts’ expectations, it reaffirmed full-year delivery guidance, saying it still expects to sell 360,000 to 400,000 vehicles this year, mostly Model 3s. Tesla delivered around 158,200 of its cars to customers in the first six months of 2019. It has to deliver more than 200,000 in the back half of the year to hit the low-end of its guidance. The company says it has a weekly run-rate of 7,000 Model 3 vehicles, and aims to be able to produce 10,000 Model 3s weekly by the end of 2019. To make high-volume sales of the Model 3 possible, Tesla said in its second-quarter letter, it plans to improve production at its existing factories including its battery plant outside of Reno, Nevada and a car assembly in Fremont, California....TSLA Daily Chart(click to enlarge)Bearish Breakdown Still in Play:- Back in May/June, price broke below a key support pivot around $245. - I would expect resistance here if the market remained bearish.- Price did break above, but respected the $260 support/resistance pivot.- The subsequent engulfing bearish candle during the 7/24 session suggests bears are back in control.- After all, price is still respecting the bottom of a previous range as resistance and is still holding under the 200-day simple moving average (SMA).- I think this suggests downside to challenge the $177-$180 area. And if price does get to $177, I think it would fall below this key support towards the next key support area in the $140-$150 area. TSLA Weekly Chart(click to enlarge)