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Fan Yang

Tesla (TSLA) - Bearish Breakout Opens up the $242.50 Support Area

Tesla is reeling hard during this period of bearish market sentiment. It is breaking below some key support factors, which opened up downside towards the next key support around 242.50. 

TSLA Daily Chart

(click to enlarge)

Bearish:
- The daily chart shows a market that was bullish entering 2017 but stalled since mid-year.
- Price action got more bearish by the end of the year, and is now pushing even lower. 
- As I type, price opened up around $264, further suggesting downside towards $242.50.

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