Chart of the Day: Does Tesla Need to Recharge its Batteries?

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Tesla rallied more than 50 percent from its lows of the year through earlier this week. But now it may be running out of juice.

The main pattern on today’s chart is the price area around $939. It was the opening price on May 5 before TSLA knifed under its 200-day moving average and proceeded toward $600. Price touched that level on August 4 without closing above it. The same thing happened on Tuesday, resulting in a potential double-top at a previous breakdown level.

Next, there’s …

For more, please click here to view the related idea and chart analysis on TradingView.

Tesla (TSLA), daily chart with selected patterns and indicators, courtesy of TradingView.
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