Tesla Motors Inc. — In the Shop for Repairs

Tesla Motors Inc. ($TSLA) averages are at $172.41 (21 day SMA), $173.60 (50 day SMA), $102.80 (200 day SMA). Over the past 52 weeks TSLA has traded from a low of $29.85 to a high of $194.50. TSLA was last at $149.75 on a volume of 23,496,100. Average daily volume has been at 10,410,381.

52 Week Range $29.85-$194.50
Market Cap 18,257,525,434
Average Volume 10,410,381
Dividend Yield 0.00%
Institutional Ownership 55.70%
Insider Ownership: 0.40%
Percentage of Float Short 17.10%
Beta 0.36

Last night Tesla announced earnings results that were actually above estimates. But they were below expectations and the stock is down nearly 15%. The uptrend was actually broken last month after advancing more than 400% in 2013. Now the stock has been struggling. Technical traders should be looking at two levels for shorting opportunities.

First, if TSLA rallies back to above $160, the risk of further advances is low. Second, a break below the current support level of $146.36 is likely indicative of more selling pressure to come.

Tesla Motors,Inc., designs, develops, manufactures and sells high-performance fully electric vehicles and advanced electric vehicle powertrain components.


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