Tesla Inc. (TSLA) - Get Report continues to be a rollercoaster stock in 2017. After charging higher for most of the year, investors are suddenly feeling anxious following a fast 9% correction since shares hit new all-time highs last Monday.

For late investors who just took a position in shares of Tesla, it's not hard to see why a nearly 10% drawdown in a week might be unsettling. And for short sellers, of which there are many in TSLA right now, Tesla's recent fall from grace is exhilarating.

Thing is, in the context of the massive 66% rally shares of Tesla have been riding since the start of 2017, this week's 9% dip doesn't look quite so significant. In fact, it looks downright normal.

More importantly, it could set the stage for an even more substantial upside move into the final stretch of 2017.

To figure out the price trajectory for Tesla shares, we're turning to the charts for an updated technical look at what's happening.

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Tesla and its sister companies may be involved in rocket science, but this stock's price trajectory in 2017 has been anything but. Instead, Tesla's price action is about as simple as it gets. Tesla has been hard-charging up to the right since last fall, adding about 95% to its market value from its December lows.

And, even now, Tesla isn't showing any signs of waning momentum. In fact, shares are showing off a textbook continuation pattern this fall.

The setup in play in shares of Tesla right now is an ascending triangle pattern, a bullish continuation setup that signals the potential for higher ground ahead. Tesla's price pattern is formed by horizontal resistance up above shares at $380, with uptrending support to the downside.

Simply put, as TSLA has bounced in between those two technically important price levels, this stock has been getting squeezed closer and closer to a breakout through its $380 price ceiling. When that breakout happens, we've got a brand-new buy signal in TSLA.

It's worth noting that the latest 9% dip in TSLA actually took shares from their most recent test of trendline resistance back down to trendline support, where they're catching a bid Monday. So, in that context, Tesla's correction over the past week hasn't just been normal, it's actually following the ascending triangle pattern's blueprint perfectly.

If you haven't already picked up a position in TSLA at this point, it makes sense to wait for the $380 breakout before you jump into this trade. A move through $380 is our confirmation that buyers are still definitively in control of this stock.

Watch: Tesla's Elon Musk Is All Jokes as the Model 3 Accelerates Into 'Production Hell"

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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.