Bearish Tesla dips below key support at $193.9 but bounces back $3 later in the session

• Nearest support line of $193.9 is only $3 away

Over the last 5 days, Tesla has fallen 5.49%. More of the same from Friday's session: the trendy EV maker dropped 2.57% early on and traded close to the $196.88 level.

The stock has been trending positively for about a month. Having set a significant low of $108.1 a month ago, Elon Musk's EV company is trading 86.93% higher.

Chart analysis indicates Tesla could begin to recover as it approaches significant support, now $3 away from $193.9. Dipping below could be an indication that further losses are ahead.

Tesla was not the only decliner in the consumer discretionary sector; Alibaba went down 5.48%, closed at $94.16. Toyota closed at $136.05 (down 2.09%). Amazon falls 2.42% Friday to close at $95.82.

Upcoming fundamentals: United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.2%; data will be released tomorrow at 13:30 UTC.