Shares break major support
Tesla is an epic battle between bulls and bears that has been unfolding for years. Elon Musk is either a genius or an unhinged fraudster as both sides have increasingly dug in.
However Musk has slowly lost credibility by over-promising and under-delivering. Now the market is losing faith.
The chart tells the story with the major double bottom near $244 now giving way. It’s a long way to support from here.