Electric Vehicle leader Tesla ( TSLA) gapped lower Monday and has broken the December low. This is not a positive development for the charts, so let's bring TSLA into the shop and check out indicators and the charts. 
In this daily bar chart of TSLA, below, we can see that prices gapped lower Monday and trade below the declining 50-day moving average line. The rising 200-day moving average line intersects around $911 and could be tested or broken in the days ahead. The On-Balance-Volume (OBV) line has shown weakness from late December. The Moving Average Convergence Divergence (MACD) oscillator has fallen below the zero line for an outright-sell signal.
In this weekly Japanese candlestick chart of TSLA, below, we see a less than compelling picture. Prices are heading down for a test of the 40-week moving average line. The 40-week moving average line may not provide all that much in the way of support. The OBV line has been drifting lower since November. The MACD oscillator has crossed to the downside for a take-profit sell signal.
In this daily Point and Figure chart of TSLA, below, we can see a potential downside price target in the $760 area.
In this weekly Point and Figure chart of TSLA, below, we can see a downside target in the $486 area.
Bottom line strategy: TSLA has broken its December low. Prices could steady and close above the December low, but the damage is done, in my opinion. TSLA could bounce and long-term investors could be the one's buying but I do not expect TSLA to show much independent strength in the face of this broad market weakness.
