On Sunday evening, Benzinga asked its followers on Twitter what they’re buying at the open on Monday. From the replies, Benzinga selected one ticker for technical analysis.

@BillyJamesG1, @Anujkalra05, @transposn and @craigjleblanc are buying Tesla, Inc (NASDAQ:TSLA).

Despite having to navigate over multiple obstacles since the COVID-19 pandemic began, Tesla has continued to ramp up its deliveries and on April 20, the electric vehicle company printed record first-quarter earnings, which beat consensus estimates handily.

Tesla continues to work toward increasing its production and recently announced a second shift has been added at its newest Gigafactory in Berlin.

On Tuesday, Tesla’s Shanghai Gigafactory will bring its output back to pre-lockdown levels, according to Teslarati report. Tesla’s Shanghai Gigafactory has been forced to shut down operations several times over the past couple of months due to record-level COVID-19 cases being reported in the country.

Despite the good news, Tesla has plummeted about 35% since printing its last financial statement and has been trading in a heavy downtrend since April 5, when the stock topped out at $1,152.87. Although Tesla appears likely to bounce soon, to at least print another lower high, the stock has a lot of work to do to give confidence to  bullish traders looking for more than just a quick scalp.

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The Tesla Chart: On May 18, Tesla broke down from a triangle pattern the stock had developed on the daily chart, which Benzinga called out the day prior. The break from the triangle came on higher-than-average volume, which indicated the pattern was recognized by the algorithms and since then, Tesla has continued to trade lower on bearish momentum.

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