TSLA experienced a sell-off, closing below the $312.88 rising trendline, anticipating continued selling pressure into the next week and August. A 2 to 3 week target is set at $269.46. Near-term, $288.99 is considered a 3 to 5-day target. Short positions below $312.88 are favored, expecting a move to $288.99 for swing traders. A close below $288.99 sets up a move to $269.46, a descending channel support. Testing $269.46 in the next 2 to 3 weeks, given yesterday's settlement below $312.88, is seen as the beginning of a range down to $248.42, to scale into a long position anticipating upward rotation into the $310-$320 range, perhaps even the $350s. Testing the channel bottom at $248.42, the trendline off the highs becomes a notable channel top, containing buying on a multi-week basis. Testing $248.42, envisions upward rotation. A significant sell signal would be closing below $252.87, a descending channel bottom, suggesting a two to three month sell signal into the low to upper $160s. If TSLA closes below $303.55 today, it will act as a secondary sign of weakness.