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Tesla stock is facing a critical technical support level, trader warns

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Tesla’s recent declines are taking the stock to treacherous territory, one trader warns.

Shares of the electric vehicle manufacturer fell nearly 3% to $665.71 on Tuesday after the National Highway Traffic Safety Administration launched a probe into the safety of its Autopilot program.

That puts the stock near a “critical” level on the charts, MKM Partners chief market technician JC O’Hara told CNBC’s “Trading Nation” on Tuesday.

“We’re seeing some bullish signs slowly starting to emerge,” including Tesla’s break of a short-term downtrend line in mid-July,” O’Hara said.

“On the downside, we really need to pay close attention to $610,” he said. “That is…



Source cnbc.com

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