TESLA INC. (NASDAQ:TSLA): Head-and-shoulders chart pattern has emerged with P/T of $194.81

 


Tesla stock broke below the price target of $288.39 for a descending triangle chart pattern breakdown on February 5. The stock is threatening to break the downtrend channel to the downside. Be aware that Tesla bulls could step in and try to take the stock back up above its $1T valuation in anticipation of the release of the "PLASTIC" CyberCab in June. The next support level is ~ $260. More selling pressure could continue as the "head-and-shoulders" chart pattern has emerged with the price target of $194.81.

This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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