Watch These Tesla Price Levels as Stock Bounces Back from Sell-Off

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averages on Tuesday before recovering most of the move Wednesday, laying the groundwork for a potential bear trap.Investors should watch important support levels on Tesla's chart around $285 and $225, while also monitoring key resistance levels near $365 and $430.Tesla (TSLA) shares moved back into high gear on Wednesday.The stock rose 5% to around $316 after the EV maker released data on deliveries in the second quarter, which showed a sharp decline in sales from a year ago but were largely in line with analysts' expectations.The gain offset a decline of about 5% on Tuesday, when a feud between CEO Elon Musk and President Donald Trump flared up again. Musk criticized the massive tax and spending bill that GOP legislators aim to approve this week, which led Trump to warn that Musk's businesses have benefitted excessively from government subsidy.Tesla shares rallied 23% in the second quarter, boosted by Musk’s decision to leave his role as head of the Department of Government Efficiency to spend more time at the automaker. However, the stock has lost 22% of its value since the start of the year, weighed down by declining EV sales and concerns that Musk’s political involvement has caused damage to the Tesla brand.Below, we take a closer look at Tesla’s chart and use technical analysis to identify price levels worth watching out for.Tesla shares broke down from a bearish flag pattern and closed below key moving averages on Tuesday before recovering most of the move Wednesday, laying the groundwork for a potential bear trap, a trading event that lures investors to sell upon a breach of major support before the price makes a sudden move higher.It's also worth pointing out that the 50-day moving average (MA) crossed above the 200-day MA earlier this week to generate a bullish golden cross, a chart pattern that signals higher prices.Let’s identify important support and resistance levels on Tesla’s chart that investors will likely be watching.The first support level to watch sits around $285. This area may attract buying interest near the bottom of the flag pattern that sits on a trendline connecting a range of corresponding trading activity on the chart that extends back to last November’s election-driven stock gap.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,279.35 +51.93 (+0.83%)Dow 3044,828.53 +344.11 (+0.77%)Nasdaq20,601.10 +207.97 (+1.02%)Russell 20002,249.04 +22.66 (+1.02%)VIX17.58 +1.20 (+7.32%)Gold3,343.60 +0.70 (+0.02%)PortfolioSign in to access your portfolioSign inTop gainersBMNR Bitmine Immersion Technologies, Inc. 135.00 +76.50 (+130.77%)RUN Sunrun Inc. 10.50 +1.51 (+16.80%)TRIP Tripadvisor, Inc. 17.50 +2.51 (+16.74%)DDOG Datadog, Inc. 155.15 +20.14 (+14.92%)SYM Symbotic Inc. 47.91 +5.71 (+13.53%)Top losersLEN Lennar Corporation 110.12 -4.69 (-4.09%)LEN-B Lennar Corporation 105.62 -4.37 (-3.97%)ESGRP Enstar Group Limited 19.45 -0.79 (-3.91%)HOOD Robinhood Markets, Inc. 94.40 -3.58 (-3.65%)BG Bunge Global SA 78.44 -2.95 (-3.62%)Most activeLCID Lucid Group, Inc. 2.1600 +0.1100 (+5.37%)NVDA NVIDIA Corporation 159.34 +2.09 (+1.33%)INTC Intel Corporation 22.49 +0.61 (+2.79%)F Ford Motor Company 11.81 +0.04 (+0.34%)TSLA Tesla, Inc. 315.35 -0.30 (-0.10%)Earnings eventsTrending tickers^GSPC S&P 500 6,279.35 +51.93 (+0.83%)^DJI Dow Jones Industrial Average 44,828.53 +344.11 (+0.77%)^IXIC NASDAQ Composite 20,601.10 +207.97 (+1.02%)RHM.DE Rheinmetall AG 1,751.50 +53.00 (+3.12%)BTC-USD Bitcoin USD 108,544.74 -1,293.55 (-1.18%)Top economic events