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Tesla (TSLA) - Let's Wait For 286-292

Tesla $TSLA started the year on a bull run that took shares from a low around 180 in 2016 to a high of 390 in September. However, Price has been flat since June, and is bearish after failing to clear 390 in September. 

TSLA Daily Chart

(click to enlarge)

Downside:
- Price did bounce off of the 200-day simple moving average (SMA).
- However, note that it was immediately turned around when price tested previous support factors (trendline and support line).
- This suggests bears are still in control.
- Therefore, we should anticipate a downswing to at least 300, and perhaps back to the support/resistance pivot in the 286-292 area.