Chart of the day

TSLA is testing the 210-220 zone. A break below this zone will lead to a downside reversal in the fifth wave after the ABC correction for a continuation to 120 and possibly below.

Only a clear confirmed break above 250 will invalidate the downside and lead to an extension higher to 294. A confirmed break below the 200 level will open a new leg lower in the final fifth wave. Short-term we are still in the sideway triangle which I expect to be broken out soon.

Short-term short trades could be opened here with a stop loss above 230 Long trades should be opened only upon a confirmed break above 250. I am inclined to see an extension lower to 100.