Key Takeaways
- Tesla shares, the biggest gainer among Magnificent Seven stocks in the third quarter, fell Friday for the second straight day despite a better-than-expected deliveries report from the EV maker.
- The stock rallied to a nine-month high in Thursday’s trading session before closing below the prior day’s low to form a bearish engulfing pattern, a candlestick formation that warns of a potential move lower.
- Investors should watch crucial support levels on Tesla’s chart around $367 and $292, while also monitoring vital resistance levels near $489 and 660.60.
Tesla (TSLA) shares lost ground Friday morning after tumbling yesterday despite a better-than-expected deliveries report from the EV maker.
Investors appear to be locking…
