Heisenberg (@Mr_Derivatives on Twitter):
“Last week I charted TSLA and thought a bounce was in order, but the market selloff took no prisoners. So I was wrong. So take this new update with a grain of salt (as always).
Name is clearly in a vicious “sell mode” slide. But Daily RSI is well oversold, and name is nearing two very important levels around 207-210ish: The 61.8% fib retracement from it's most recent up move and the almighty trendline support from January.
As long as it holds 207-210ish can see this getting back to 235-245 as a tradable bounce.If it breaks below, then $200 “psychological” mark will get tested as kind of the last stand support for bulls.”
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