Here’s why chances of Tesla stock pullback are increasing
After the recent price breakout, Tesla (NASDAQ: TSLA) stock could be facing a potential pullback based on the equity’s technical setup.
Tesla closed the week at $320.72, up 3.07%. The stock has seen significant investor interest amid the post-election rally that pushed it toward the $400 resistance.
Analysis indicates that TSLA has formed a bearish counter-attack pattern on the weekly chart, a reversal signal that often emerges near resistance zones, according to GDXTrader in an X post on November 16.
“TSLA ended the week with a bearish counter-attack pattern, a reversal signal that occurs when price gaps up at resistance but fails to hold its gains, with bears stepping in to push the price back down to close at…
