Opportunity and peril in Tesla’s stock are ahead. Let’s explore the issue with a chart. Chart Please click here for an annotated chart of Tesla TSLA, -0.96% stock. Please observe the following from the chart: • The chart shows a key psychological level of $300 drawn in white. • The chart shows a support zone drawn in yellow around the key psychological level. • The chart shows Tesla Whac-a-Mole. Lately when there is bad news for Tesla, buyers step in around $300, often driving the stock higher. In the past month, investors drove the stock to $357. • The chart shows that Tesla’s stock is below the 200-day moving average. There is no magic by itself to the 200-day moving average. However, many investors believe that a stock trading below that level is bearish. Sometimes this belief on the part of a large number of investors becomes a self-fulfilling prophecy. • As the chart shows, the volume spikes on down days. This is bearish.via