Tesla Stock Breaks Down From Chart Pattern, Faces Further Weakness Ahead

Tesla's stock has broken down from a "triangle" chart pattern, indicating further weakness ahead.

The breakdown confirms the stock's bearish technical outlook, ending its multi-month uptrend.

But strong support around $200-215 could slow or halt the decline, with the 200-day moving average near $214.

If support fails, the next target is around $165 based on a "measured move" calculation.

Bulls may attempt a bounce back to the breakdown point to test bears' resolve before support is tested.