Key Takeaways
- Tesla shares tumbled after CEO Elon Musk announced that he plans to start a new political party, reigniting concerns that his attention will turn away from running the EV maker and that a public feud with President Trump will escalate.
- Selling accelerated in the stock after the price retested a bearish flag pattern’s lower trendline late last week.
- Investors should watch key support levels on Tesla’s chart around $285, $265 and $225, while also monitoring vital overhead areas near $318 and $365.
Tesla (TSLA) shares slumped Monday following CEO Elon Musk’s weekend announcement that he plans to start a new political party, reigniting concerns that his political involvement will take attention away from running the EV…
