$TSLA has been in a falling wedge
pattern for the past five months which fits within the typical formation length for a falling wedge
and we are now near the long-term support level
around the $255 area. With earnings
coming out tomorrow any good surprise could lead to a strong upwards breakout or breakage of the support line. Recent negative news of a Tesla
Model S blowing up in China has caused more downturn but on the positive side, a shakeup within the board of directors shows that positive shifts in management and business direction could be on the horizon. I am long but playing this trade with extreme caution.