In our previous analysis on TSLA stock price I noted it was time to stop being bullish and at least turn neutral. Price has since then pulled back towards $1,000 where we had our target area of $1,000 and $970.

TSLA stock price has already reached our downside pull back target. Price will find support at current levels at the 38% Fibonacci level of the decline. This does not rule out a shallow bounce and a new lower low. Trend is bearish and so far we consider each bounce as a selling opportunity. We continue to prefer to avoid this stock.