Tesla: Uptrend Intact – Eyeing the 470 Target AheadHello 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?
