Consumer reports just downgraded the rating on Tesla's Model S to "worse-than-average" citing the fact that consumers "chronicled an array of detailed and complicated maladies" with the popular sedan. Couple that with bearish technicals, e.g. the wedge pattern and lower highs, and its a bleak outlook for TSLA in the near future. Also note the relative lack of levels from below until around $196. Now, the indicators say its slightly oversold, so we can expect a slight retracement, which may be good for the scalpers, but the swing trader may want to consider a short position soon.
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