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Tesla Stock Still Has Plenty To Prove On The Charts

InvestorPlaceJune 12, 2019, 10:22 AM UTC. What a tough year it’s been for Tesla (NASDAQ:TSLA). Unlike many stocks so far in 2019 or the overall markets in general, Tesla topped out in January and has been struggling ever since. While the Nasdaq is up 18.5% year to date, TSLA stock is down 35%. Through the first quarter, it was tough run for Tesla. But the charts didn’t start to really break down until April. For years, Tesla bulls have seen shares rebound higher each time they test down into range support near $250 (we’ll get to the levels in a moment). When that support gave way though, a flood of selling hit the stock. Labeled “1” above, channel support had buoyed TSLA stock as it continued to trend lower.

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