CMT Michael Kahn On Tesla Trading Down: Stock Has Been Lagging Since Summer

Chartered Market Technician Michael Kahn told Benzinga that the 200-day moving average is broken in the chart for Tesla Motors Inc (NASDAQ: TSLA) stock.

“There is little support if the trendline breaks by a significant margin,” he said. “This has not yet happened, but it has a tentative break.”

What is most interesting to Kahn is that this “former momentum leader and Wall Street darling” has been lagging since the summer.

Shares of Tesla are trading down 1 percent down.

Brianna Valleskey contributed to this report.