Tesla : Bounce or fall hard
The daily trendline broke and price has been falling hard for the last 2 days. This is only the beginning, price will go much lower. The question now is how high will price go before the next big drop? Will the broken trendline be retested? The current size of this countertrend rally wave (b) is pretty small so a bigger rally to the trendline is possible. However the break of the trendline is a serious signal that price will go lower. This will make bulls get out and bears get in at this price level. A break of 600 will put the wave (a) low at 540 in danger. These will only accelerate the move lower.
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