Tesla, Inc. (TSLA) is not just a maker of luxury electric automobiles – it is also a solar energy company. Investors will be focusing on offerings in the trucking industry, with vehicles ranging from pickup trucks to large multi-wheeled freight carriers.

The stock closed 2017 at $311.35, up 45.7% for the year and in bull market territory at 47.6% above its 52-week low of $210.96 set on Jan. 3, 2017. The stock set its all-time intraday high of $389.61 on Sept. 18 and is in bear market territory since then, down 20.1% since this high. (See also: Tesla Could Jump 70% on Model 3 Success: Analysts.)

Here's how the numbers worked in 2017.

Tesla shares closed 2016 at $213.69, and my annual risky level for 2017 was $250.95. This level quickly became an annual pivot first tested on Jan. 24, 2017. Given stability around this level, investors were justified to buy at $250.95 on March 22. At mid-year, the stock closed at $361.61, and my semiannual value level of $313.87 was tested as a buy level on July 6. The stock set its all-time intraday high of $389.61 on Sept. 18. Then, the semiannual pivot of $313.87 was violated to the downside on Nov. 2, and it has been a magnet since then, including on the last day of 2017.

The daily chart for Tesla

Daily technical chart showing the performance of Tesla, Inc. (TSLA) stockCourtesy of MetaStock Xenith

Tesla stock has been below a "death cross" since Dec. 13, when it closed at $339.03. A "death cross" occurs when the 50-day simple moving average falls below the 200-day simple moving average and indicates that lower prices lie ahead. The horizontal lines show the annual and semiannual pivots of $250.95 and $313.87, respectively.

The weekly chart for Tesla

Weekly technical chart showing the performance of Tesla, Inc. (TSLA) stockCourtesy of MetaStock Xenith

The weekly chart for Tesla is neutral, with the stock below its five-week modified moving average of $322.12. The stock is well above its 200-week simple moving average at $246.35, which is also the "reversion to the mean," last tested during the week of Dec. 16, 2016, when the average was $196.77. The 12 x 3 x 3 weekly slow stochastic reading ended 2017 rising to 38.44, up from 33.47 on Dec. 22.     

Given these charts and analysis, Tesla begins 2018 in a neutral trading range between my semiannual pivot at $296.08 and my annual risky level of $378.49, suggesting that the stock will not see a new high this year. (For more, see: EV Credit a Boost for GM, Nissan—Not Tesla: Morgan.)

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