Chart of the day

TSLA is being rejected by the top of the downtrend channel 277 and is moving lower in the wedge. Yesterday we had an inside day, which means we can see a downside continuation.

This would mean that the fourth wave ABC pullback of the long-term downside five waves could be finished. A confirmed break below 238 would lead to an acceleration in the fifth wave and could reach 180 in the short term.

This opens a possibility of the short trade first. Long trades will come only upon a break above 278. Look to short at the last two hours of the NY session today with the stop just above 270.