Tesla Continues to Channel Lower

By | March 28, 2015

I have been highlighting the movement of Tesla (TSLA) shares within clearly defined channel consolidations on the weekly chart. This week they tested the support line of the lower channel. To reverse this measured decline requires several strong closes above the resistance zone delineated by the eight month downtrend line and the top end of this last channel. On the other hand, a breakdown projects to the 2014 low, in the $140.00 area.

3328.TSLAweeklychart

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