Watch These Tesla Price Levels as Stock Shifts Gear After Soaring in 3rd Quarter

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…

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