Key Takeaways
- Tesla shares will be in focus to start the week after logging two consecutive days of losses, as investors look ahead to the EV maker’s fourth-quarter deliveries report.
- The stock has consolidated within a pennant, a chart pattern that signals a continuation of the current uptrend.
- A measured move, which calculates the distance in points of the impulsive move higher that preceded the pennant and adds that amount to the pattern’s top trendline, forecasts a price target of $615.
- During pullbacks, investors should watch key support levels on Tesla’s chart around $360 and $300.
Tesla (TSLA) shares will be in focus to start the week after logging two consecutive days of losses, as investors reassess the stock’s extended…
