Leading EV manufacturer Tesla (NASDAQ:TSLA) has been one of the most volatile stocks in the market. Almost everyday, traders and investors are watching Elon Musk’s Twitter (NYSE:TWTR) page to see what he will say next. The stock is not for the faint of heart as 3-to-5 percent moves are common during any given trading session. Currently, TSLA stock is testing its 200-week moving average. A failure to hold this key level could send the stock lower. One particular level that looks solid as major support will be $240. This is where the stock broke out in January 2017 and it should be defended again when retested.