$TSLA finished the day up 12% but there is 3 points of interest now
1. Rejected at the $165 level at the 0.618 Fib I spoke about yesterday
2. Rejected highs of the day at the descending wedge trend line
3. Still has not made it up to the 50 Day Ma
Like I said yesterday, there is still a lot of work to do here for the bulls, and getting above these three levels will be important.
But the enthusiasm around the lower cost model may fade if the market continues to show weakness, earnings report was still a harsh reality.