2use

Tesla (TSLA) - bearish pattern, resistance at 200 and 193

NASDAQ:TSLA   TESLA INC
213 5 5
Short for the continuation of the pattern.
Long after that (going for another pattern)

Note that TSLA             is a high flying expensive stock and follows the markets sentiment. But is traded by many who follow the trend and is more subjective to patterns.
Update 2014-04-15: Latest trading session bounced exactly from the support line drawn. Tesla still in correction stage and close blow 200. Further possible down trend exists, although it is closing to the 100 day moving average, RSI STOCH and ACC.Dist are all at lows, and with any up wind Tesla may go up (unless bad news come in).
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Earnings made the bad news. will open at 185 today
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Update 2014-04-09 - Went as low as 204. By this a small gap was filled from 2014-02-18. There are no gaps to fill. Close to top of the trend resistance line. Needs volume and momentum to break. Looking for a test of the resisntance and 230-235 line. Maybe late to get into the next rally, but with this stock risks are higher
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Just an observation. A symmetrical move with the center at 2014-03-17. Up-down 30 | down-up 30.
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Update: Tesla out of the pattern. Once above 232, is a good buy. 233.5 is in between the top and bottom of the recent movements (day close). May test previous top, that is up 30 from here, after that may go 30 from there (but that is just speculation). Long term up trend still in tact.
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