It is possible that TSLA may have a sustainable high in place.

Summary: There is reasonable risk here of more downwards movement. A new low below 652 would indicate a bounce may be over. However, expect more upwards movement for the short term while price remains above 652.

MONTHLY CHART

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It looks like TSLA may have had a blow off top. Strong bearish divergence between price and RSI and a bearish Evening Doji Star reversal pattern suggest a high may possibly be in place for the longer term.

WEEKLY CHART

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For the short term, volume suggests upwards movement may continue.

DAILY CHART

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A target calculated from the last measuring gap is 76.39, which has been passed. Assume upwards movement may continue while the last gap remains open at 652.00.

Published @ 06:56 p.m. EST.

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1. Always trade with stops.

2. Risk only 1-5% of equity on any one trade.

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New updates to this analysis are in bold.