Tesla Motors Inc (NASDAQ: TSLA)

Tesla Motors, Inc. designs, develops, manufactures, and sells electric vehicles, electric vehicle powertrain components, and stationary energy storage systems in the United States, China, Norway, and internationally. It also provides development services to develop electric vehicle powertrain components and systems for other automotive manufacturers. The company sells its products through a network of Tesla stores and galleries, as well as through Internet. Tesla Motors, Inc. was founded in 2003 and is headquartered in Palo Alto, California.
Take a look at the 1-year chart of Tesla (Nasdaq: TSLA) with the added notations:

TSLA has formed a relatively clear down-channel chart pattern over the last 7 months. A channel is simply formed through the combination of a trend line support that runs parallel to a trend line resistance. When it comes to channels, remember that any (3) points can start the channel, but a 4th point or more confirms it. You can see that TSLA has several points of channel resistance (red) and support (green).

The Tale of the Tape: TSLA has formed a common pattern known as a channel, in this case a down channel. A long trade could be entered on a pullback down to the channel support, or on a break through the channel resistance, which is currently sitting near $205. Short opportunities would be on rallies up to channel resistance or on a break of channel support.
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