TradingKey – Tesla Struggles Repeatedly at $380 Resistance: Bullish Continuation or Pullback Ahead?

On October 8, Eastern Time, Tesla (TSLA) shares continued to face downward pressure, falling over 1% in pre-market trading today to temporarily trade at $373.7. Since late July, after staging a strong rally from around the $300 low, Tesla’s stock price met significant resistance and experienced high-level consolidation during three attempts to test the key resistance area of $380. So why is Tesla’s stock price blocked at this level, and can it rebound further to break through?

Tesla’s current rally has been primarily driven by a recovery in vehicle deliveries, advancements in Full Self-Driving (FSD), and expectations for the commercial…