Tesla remains within a well-defined channel range, consolidating near lower channel support on declining volume, which reflects healthy consolidation after prior momentum. The recent action has formed a symmetrical triangle, with price compressing between rising support and descending resistance — a classic setup for a volatility squeeze and potential breakout.
Despite short-term weakness, TSLA has consistently held above prior support levels within the channel. With bullish sentiment building ahead of earnings, it’s unlikely the stock breaks below existing support (~$416–$420).
The key resistance to watch is at $455, aligning with the upper boundary of the current structure. A decisive breakout above this level could trigger a move toward $470, which coincides with the previous high and marks a potential continuation of the bullish trend.
Notably, the price breakout between September 11 and September 22 offers a useful reference; that move demonstrated TSLA’s ability to accelerate rapidly once volume returns and resistance levels are cleared - this stock is a freight train once it gets moving.
Given the technical compression, low-volume consolidation, and improving sentiment, I’d expect a breakout as early as tomorrow or early next week, especially as we lead into earnings.
Key Levels:
• Support: $416–$420
• Resistance: $455 (breakout trigger)
• Target: $470+ (prior high / upper channel objective)
• Future Target: Liftoff?
Despite short-term weakness, TSLA has consistently held above prior support levels within the channel. With bullish sentiment building ahead of earnings, it’s unlikely the stock breaks below existing support (~$416–$420).
The key resistance to watch is at $455, aligning with the upper boundary of the current structure. A decisive breakout above this level could trigger a move toward $470, which coincides with the previous high and marks a potential continuation of the bullish trend.
Notably, the price breakout between September 11 and September 22 offers a useful reference; that move demonstrated TSLA’s ability to accelerate rapidly once volume returns and resistance levels are cleared - this stock is a freight train once it gets moving.
Given the technical compression, low-volume consolidation, and improving sentiment, I’d expect a breakout as early as tomorrow or early next week, especially as we lead into earnings.
Key Levels:
• Support: $416–$420
• Resistance: $455 (breakout trigger)
• Target: $470+ (prior high / upper channel objective)
• Future Target: Liftoff?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.