Tesla (TSLA.US) launched today's trading with a bearish price gap. The move lower was triggered by a report from Reuters. News agency reported that US prosecutors are examining whether the company has misled investors and consumers about capabilities of its electric vehicles. Namely, prosecutors will look whether Elon Musk lied to investors by suggesting that Tesla cars can drive themselves while neither Tesla's Autopilot nor Full Self-Driving system are fully autonomous. Should investigators find Tesla guilty of deceiving investors, wire fraud or securities fraud charges may be brought up.
Taking a look at Tesla (TSLA.US) chart at H1 interval, we can see that while the company has opened lower today, a big part of the drop was erased already. Stock bounced off the $170 support zone, marked with previous price reactions and 200-hour moving average (purple line), and started to recover losses. A near-term resistance zone to watch can be found in the $180 area.
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Source: xStation5
