Elon Musk has caused an epic shift in investor and analysts' focus away from the genius of Tesla products to a man filled with ego. That's not good. Investors have seen Tesla (NASDAQ:TSLA) fall sharply from a recent high near $390 to a low today near $290. This epic 3-week fall should spook investors as big hedge funds are dumping their positions. Large funds cannot risk their performance on a loony tweet. There is too much money on the line.
Tesla Technicals
Based on my chart analysis, the stock will see continued momentum to the downside to its first support at $273.75, then after a hard bounce and another leg lower to $245. That's where I'll be waiting patiently to begin buying shares. It is likely that we could see the bottom target by year's end.