Tesla ( TSLA) has been in a tailspin lower the past three months. Prices have declined to levels not seen since late 2020. In my Oct. 27 review of TSLA, I wrote that "In this weekly Point and Figure chart of TSLA, below, we see a potential downside price target in the $85 area." 
Let's check the charts again as Tesla watchers wonder who is running the store in Austin. Also, after Goldman Sach's cut its price target on the company....
In this daily bar chart of TSLA, below, I still see the bears in charge. Prices have worked lower the past 12 months, so the bears have become comfortable and the buy-and-hold investors uncomfortable.
TSLA trades below the declining 50-day moving average line and below the bearish 200-day moving average, too. The trading volume has been increasing since early September as traders are voting with their feet. The daily On-Balance-Volume (OBV) line has been weak since the middle of August telling us that sellers of TSLA are more aggressive than buyers with heavier volume being transacted on days when TSLA has closed lower on the day. The Moving Average Convergence Divergence (MACD) oscillator is bearish and turning lower, again.
In this weekly Japanese candlestick chart of TSLA, below, I see a bearish picture with prices in a longer-term downward trend as it trades below the downward sloping 40-week moving average line. I see no bottom reversal patterns and no lower shadows to suggest that traders have begun to reject the lows. The weekly OBV line shows me a longer-term decline. The MACD oscillator is bearish.
In this daily Point and Figure chart of TSLA, below, we can see a downside price target of $142.
In this weekly Point and Figure chart of TSLA, below, we have a downside price target in the $85 area.
Bottom line strategy: Traders should continue to avoid the long side of TSLA as further declines appear likely.
