Tesla’s stock has achieved a streak of three consecutive bullish sessions, recording a gain of more than 5% over that period. For now, buying pressure has remained firm following recent announcements indicating that the company has confirmed unsupervised robotaxi testing, a development that could mark a significant milestone in Tesla’s autonomous vehicle program and become a project with major long-term impact. This announcement has reinforced confidence in the stock in recent sessions and may continue supporting consistent buying pressure in the coming days.
Long-Term Uptrend Remains Intact
It is important to remember that Tesla’s bullish movements have maintained a consistent upward trend since April of this year. In recent sessions, buying pressure has strengthened again, even pushing the price toward the 480-dollar zone — a level not seen consistently since December 2024.
If buying pressure remains stable in the short term, the long-term uptrend could continue dominating Tesla’s price action toward year-end. However, it is also important to consider that confronting current highs may create room for short-term bearish corrections.
RSI
At the moment, the RSI line continues to oscillate above the neutral 50 level, indicating that buying momentum still dominates short-term price action. However, the RSI is now approaching the overbought zone (70), which may signal a potential imbalance in momentum and open the door for short-term pullbacks.
ADX
The ADX line remains below the 20 level, suggesting a period of neutrality in average volatility over the last 14 sessions. This indicates that unless a stronger directional move occurs in the short term, a phase of persistent indecision may continue, potentially leading to temporary bearish corrections.
Key Levels to Watch:
Written by Julian Pineda, CFA, CMT – Market Analyst
Long-Term Uptrend Remains Intact
It is important to remember that Tesla’s bullish movements have maintained a consistent upward trend since April of this year. In recent sessions, buying pressure has strengthened again, even pushing the price toward the 480-dollar zone — a level not seen consistently since December 2024.
If buying pressure remains stable in the short term, the long-term uptrend could continue dominating Tesla’s price action toward year-end. However, it is also important to consider that confronting current highs may create room for short-term bearish corrections.
RSI
At the moment, the RSI line continues to oscillate above the neutral 50 level, indicating that buying momentum still dominates short-term price action. However, the RSI is now approaching the overbought zone (70), which may signal a potential imbalance in momentum and open the door for short-term pullbacks.
ADX
The ADX line remains below the 20 level, suggesting a period of neutrality in average volatility over the last 14 sessions. This indicates that unless a stronger directional move occurs in the short term, a phase of persistent indecision may continue, potentially leading to temporary bearish corrections.
Key Levels to Watch:
- 480 dollars – Crucial resistance:
A level not seen since 2024 and a major high for 2025. Sustained buying above this level could reinforce the bullish bias and potentially push the price toward the psychological 500-dollar mark. - 437 dollars – Nearby support:
This level aligns with the 50-period moving average and may act as initial support should short-term bearish corrections occur. - 391 dollars – Final support:
This level corresponds to recent lows. A pullback toward this zone could reactivate a bearish bias and put the current bullish structure at risk.
Written by Julian Pineda, CFA, CMT – Market Analyst
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.
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.