Tuesday, July 29, 2014

Tesla Gets Scorched

This morning, the leading electric car maker Tesla Motors Inc (NASDAQ:TSLA) is declining sharply after a video emerged with a Tesla car on fire. Today, the stock is trading lower by over 5.0 percent to around the $170.00 level. The stock has been one of the Wall Street darlings this year, but today there is certainly distribution in the stock. Day traders can watch for some important intra-day support around the $167.00 level. Any consolidation above the level would weaken the support area so it will be important to follow the chart pattern closely. Just from reading our free Rant & Rave blog, you should have been on the right side of this move…

Nicholas Santiago
InTheMoneyStocks.com



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