TLSA - on the edge of a breakdown

Whilst the main market is broadly still climbing (not least the Transports index), Tesla (TSLA) is having major problems, closing -4.1% @ $164. Near term trend looks weak, and a break into the $150s will open up the 110/100 zone, where the 200 day MA will soon be lurking.


TSLA, daily

Summary

Suffice to say, TSLA is having real problems, and a break into the $150s will open the door to the 110/100 zone, where the 200 day MA will be lurking in November.

As ever, the hysteria-surrounded stocks are a minefield to be meddling in, but they sure make for some entertainment during most trading days.

So, if $160 fails to hold...we should see much stronger downside pressure, on the order of a 10/15% decline in a single day.