It appears to me that TSLA is either coming down from the right shoulder of a bearish Head and Shoulders pattern (green color), or it is bouncing down from the top of a trading channel (purple color). Either way, the stock looks like it is going down.
I expect a bounce on the channel support around $185. At that point, the stock can either climb back up to the top of channel around $280, or it can fall even further to complete the head and shoulders pattern, perhaps stopping at support around $120.
I expect a bounce on the channel support around $185. At that point, the stock can either climb back up to the top of channel around $280, or it can fall even further to complete the head and shoulders pattern, perhaps stopping at support around $120.