TSLA has been struggling the past half a year, with its RSI decelerating, forming a double top on its peak, followed by aggressive sell-offs on big volume. It seemed like it was trying to form a W shaped double-bottom pattern, but it failed to breakout twice, then reversed and broke the 297 support level, moving further down from the 50 and 200 day Moving Averages. It bounced back from 245, because bottom fishers like to drive up prices, but the bears still have control, since it couldn't break above the downward trendline (in yellow). It also formed a Tweezer top JCP pattern, which is a bearish sign.
A sell order could be put, with stoploss a bit above the tweezer top, profit targets from 265 until 245, depending on your aggressiveness.
A sell order could be put, with stoploss a bit above the tweezer top, profit targets from 265 until 245, depending on your aggressiveness.