Tesla and the bearish rising wedge:

According to Investopedia; “a rising wedge is a bearish pattern that signals that the security is likely to head in a downward direction. The trendlines of this pattern converge, with both trendlines slanted in an upward direction. As the price moves towards the apex of the pattern, momentum is weakening. A move below the lower support would be viewed by traders as a reversal in the upward trend.”

In other words – in a normal up trend one could place two parallel trend lines bounding the rising highs and lows and create a rising price channel. But aggressive selling into each rally sets up a series of weaker highs which causes the upper trend line to tilt down toward the lower trend line to create a wedge. Some famous bearish rising wedges were INTEL March – September 2000 and the US$ index October 2000 – January 2002

Here we see Tesla Motors Inc (TSLA) falling down out of a large rising wedge – not as big as the First Solar (FSLR) wedge but still a worry.