$TSLA: Tesla Breaks Below Major Support Level

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I was as bullish as I could be on Tesla earlier this year, and I saw the stock heading over $200 before year's end. It actually came close to that level, in fact, but was beaten down as a result of fires in at least three of its cars. Fire is almost never good, and judging from the price of $TSLA's stock investors certainly agree. On November 6th, I was also the first to report the third $TSLA fire:

http://www.optionmillionaires.com/tsla-another-car-fire/

http://www.optionmillionaires.com/tsla-tangible-visible-mysteries-fire/

http://www.optionmillionaires.com/tsla-fire-update/

The question now: where does the stock go from here?

As a partial answer, $TSLA broke key $135 support levels this morning.  I think a move to $110-$115 is in the cards,before it resumes its move to over $200 per share.

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Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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