TSLA cup and handle INVALIDATED

The TSLA cup and handle breakout case has been invalidated as of Thursday June 5th of this past week. The start of the week showed lack of conviction in the follow through to and over the 360 price level, where sellers stepped up. This indicated a slowdown in bullish momentum and a weakening trend early in the week. The ultimate catalyst that caused the breakdown for TSLA was, of course, the public breakup of Musk and DJT over social media platforms. This caused a "waterfall effect" of intense selling pressure through low volume zones from ~330 to the high volume node and put wall at the 280 level. Price ended up overshooting 280 but ended up reclaiming that level by the end of the session and bounced higher the following day. At this point, the weekly and daily charts are showing a short term wedge formation that may take some weeks to play out. There has not been signs of big institutional buying at the these levels as of now, and as such I suspect that there may be a bit more downside these coming weeks. My current idea is a short/put position under 293.5 to about 273, with a maximum target of 250. If price ends up at or near 250 levels, I would look to start a long position for a play back up to the 300 level.