TESLA MUST HOLD ABOVE 285 / 275 OR IT COULD BREAK DOWN
TESLA has declined to what I had identified as long-term support at 295 to 275 already in June. At these levels there are 5 Fibonacci support lines.
Most important is that the decline from June 2018 is exactly 61.80% of the decline from September 2017 to March 2018 at 285. This is most important because above this line the pattern from September 2017 could still be viewed as a Horizontal Triangle.
As long as 285 holds the stock could still rise to another new all-time high in 2019.
HOWEVER, A BREAK OF 285 / 275 WOULD NEGATE THIS TRIANGLE COUNT AND SUGGEST THAT THE STOCK HAS PEAKED ON A LONG-TERM BASIS.
Next supports would be at 250, 230, 200 and 140.