

Technical Summary: It has been a volatile ride for shareholders of Tesla over the last year. The stock has largely tracked sideways as the market tries to figure out what it makes of the company. There appears to be some rough support at around $300 per share. And this could be an area that mean reversion traders will be looking for. But there it no real trend for followers to use at the moment. Over the long term the stock has had an upward bias but it has not been without considerable volatility. For this to become buyable we would like the stock’s volatility to tighten up and for a pivot point to form. At the moment unless you want to try and pick some shares up at around $300, there is not much to do.