Hello everyone,
Tesla (TSLA) has been extending its rally since mid-July. On the H4 chart, the uptrend remains intact with a clear sequence of higher highs and higher lows, signalling that buying pressure continues to dominate. The recent breakout above the $460 mark further strengthened the bullish trend.
Currently, the price is trading above the Ichimoku cloud, while the $457–460 zone provides a short-term support cushion. In case of a pullback, the $450–445 area would act as a deeper support. On the upside, targets are set at $465, followed by $470 and $475. Rising volumes during breakouts indicate that institutional money is still flowing into the stock.
From a fundamental perspective, Tesla’s Q3 earnings exceeded expectations thanks to strong growth in Model 3 and Model Y sales, providing major momentum for the stock. At the same time, plans to expand into the lower-priced EV segment and renewable energy business add long-term sustainability to its outlook. In a rapidly expanding global EV market, Tesla maintains a competitive edge in both technology and brand strength.
On the macro side, while investors remain cautious about the Fed, the tech sector overall – and Tesla in particular – continues to benefit from the positive sentiment across equity markets.
What do you think – will Tesla reach the $470 target in this leg up, or does it need a short pullback before breaking higher?
Tesla (TSLA) has been extending its rally since mid-July. On the H4 chart, the uptrend remains intact with a clear sequence of higher highs and higher lows, signalling that buying pressure continues to dominate. The recent breakout above the $460 mark further strengthened the bullish trend.
Currently, the price is trading above the Ichimoku cloud, while the $457–460 zone provides a short-term support cushion. In case of a pullback, the $450–445 area would act as a deeper support. On the upside, targets are set at $465, followed by $470 and $475. Rising volumes during breakouts indicate that institutional money is still flowing into the stock.
From a fundamental perspective, Tesla’s Q3 earnings exceeded expectations thanks to strong growth in Model 3 and Model Y sales, providing major momentum for the stock. At the same time, plans to expand into the lower-priced EV segment and renewable energy business add long-term sustainability to its outlook. In a rapidly expanding global EV market, Tesla maintains a competitive edge in both technology and brand strength.
On the macro side, while investors remain cautious about the Fed, the tech sector overall – and Tesla in particular – continues to benefit from the positive sentiment across equity markets.
What do you think – will Tesla reach the $470 target in this leg up, or does it need a short pullback before breaking higher?
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Trade Gold, Forex, Bitcoin – the market moves fast, grab your edge today!
👉🏻Join here: t.me/+jBAj1Jdf4vY1NzM1
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Related publications
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.