TSLA: Shares Set to Test Broadening Formation's Lower TrendlineTesla, Inc.BATS:TSLAtimothysmith78Tesla (TSLA) shares dropped 6% in premarket trading on Thursday after the legacy EV maker said it expects capital expenditure to surpass $25 billion this year, raising investor concerns about ballooning AI costs. Taking a closer look at the automaker's chart, the stock has oscillated within a descending broadening formation since mid May, with the price set to test the pattern's lower trendline on Thursday's open following the company's quarterly results. It's also worth noting that trading volumes have declined in recent weeks, indicating that institutional investors have remained on the sidelines waiting for further capital expenditure guidance. If the shares see follow-through earnings-driven selling, keep a close eye on the $343 level, a location on the chart where investors may seek entry points near the prominent April swing low, which also finds confluence from the descending broadening formation's lower trendline.