During the stock's March-April 2018 mini-crash TSLA traded as low as $244.59 on April 2.
Our warning on March 27, 2018 was "Tesla's Stock Is In A Very Dangerous Spot (TSLA)" at $301.10.
That $240 - 245 area would be the next support level and should that break the February 2016 lows around $140 - 145 would come into play
From TheStreet:
Tesla shares traded at a five-month low Monday after analysts at RBC trimmed their target for the stock and founder and CEO Elon Musk noted that prices for the group's clean energy cars would increase in the coming months.
Tesla Inc. shares traded at a five-month low Monday after analysts at RBC Capital Markets trimmed their target for the stock and founder and CEO Elon Musk noted that prices for the group's clean energy cars would increase in the coming months.
RBC's Joseph Spak cut his price target on Tesla shares by $35 to $210 each, and trimmed his first quarter delivery forecasts for the flagship Model 3 by 4,500 units to 52,500, in a note published Monday that cited "meagre demand". JMP Securities also lowered its price target by around 3% to $394 per share, and reduced current year and 2020 earnings forecasts, citing U.S. market weakness and the group's u-turn on closing its dealership network.
"As we have moved through the first part of 2019, it is becoming apparent that Tesla's efforts to pull demand into 4Q before the federal tax credit expired worked well, perhaps better
than the company had planned." JMP analyst Joseph Osha said. "Indeed, based on our analysis we are not sure that U.S. demand will return to 4Q18 levels at any point this year."
"It is worth reiterating that our investment stance on Tesla has always been based on the potential the company has to make competitive gains over time," he added. "The undeniably challenging environment that Tesla faces at the moment is not enough to impact our fundamental stance on the company and its prospects."...MORE
