Tesla, Inc (NASDAQ:TSLA) was popping up over 4% on Friday in contrast to the general market, which saw the S&P 500 struggling to close flat.

The EV giant has missed out on the recent bull run in the general market, having declined over 16% between Oct. 13 and Friday, while the S&P 500 has gained over 10% during that time frame.

Tesla’s bearish price action is partly due to Elon Musk’s Oct. 28 Twitter acquisition, which was partly funded by Musk, who offloaded billions worth of Tesla shares to complete the deal.

Tesla’s weakness, paired with Amazon.com, Inc’s (NASDAQ:AMZN) nearly 40% plunge since Aug. 16, has hindered the S&P 500, which temporarily crossed above the 200-day simple moving average on Nov. 30 in an attempt to negate the bear market.

With the Federal Reserve set to decide how high to raise the benchmark interest rate on Dec. 14, Tesla may chop mostly sideways leading up to the event. After that, the stock is likely to choose whether the bullish or bearish chart pattern that has developed becomes dominant.

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The Tesla Chart: Tesla’s bullish pattern consists of a possible inverted head-and-shoulders formation that started to develop on Nov. 7. The left shoulder was created between that date and Nov. 15, the head was formed between Nov. 16 and Dec. 1 and the right shoulder forming over the days that followed.

Illustration via Shutterstock and Wikimedia.