Falling Wedge near possible breakout for $TSLA
TSLA has been in a falling wedge pattern for the past five months which fits within the typical formation length for a falling wedge and we are now near the long-term support level around the $255 area. With earnings coming out tomorrow any good surprise could lead to a strong upwards breakout or breakage of the support line. Recent negative news of a Tesla Model S blowing up in China has caused more downturn but on the positive side, a shakeup within the board of directors shows that positive shifts in management and business direction could be on the horizon. I am long but playing this trade with extreme caution.
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