Tesla Lower Following EarningsTesla shares are down pre-market today following the company’s latest earnings report yesterday. Despite both EPS and revenues coming in above forecasts, investors were left uninspired by a more cautious tone from CEO and founder Elon Musk. On the number front, EPS came in at $0.91, above the $0.80 Wall Street was looking for while revenues came in at $24.93 billion, above the $24.22 billion the market was looking for.Further Price CutsAlongside the earnings release, Musk noted the company would once again cut the price of some key electric vehicles in a bid to shelter it from competitors as well as economic uncertainty. On that latter point, Musk noted that the economic backdrop appeared to be shifting daily between hopeful and gloomy, noting that the world was in “turbulent times.”Concern Over Narrowing MarginsNews of a further price cut has hurt investor sentiment towards the stock, with traders carefully watching the company’s narrowing profit margins as a result of the price war of the last year. However, Musk noted his support for the move saying it made sense to sacrifice some margin in order to produce higher vehicle numbers. However, with gross margins of just 18.2%, the lowest in 16 quarters, investors are understandably concerned, which leaves Tesla poised for a deeper correction near-term.Technical ViewsTeslaThe rally in Tesla stock has paused for now following the break above 276.74. In light of the bull trend this year, focus remains on further upside while price holds above this level, with 313.11 the next objective for bulls. However, should we slip back below support, 255.61 will be the next level to watch.