Peter Smith
⬤ Tesla's been on a pretty solid run lately, but the charts are hinting at a possible breather before the next leg up. Right now, TSLA is testing some important price zones—there's resistance sitting around $475 to $482, while support is holding steady near $416 and $402. This kind of pullback could actually be healthy, giving the stock room to consolidate before pushing higher.
⬤ The momentum indicators are telling an interesting story here. The Momentum 10 is flashing signs that we might see some consolidation or even a small reversal as Tesla bumps up against that $475–$482 resistance zone. It's pretty normal for stocks with strong upward moves to take a step back before breaking through to new highs—it's just part of the natural rhythm of the market.
⬤ The bigger picture for Tesla still looks promising though. The EV sector continues to attract serious investor attention, and Tesla's technological edge plus growing market share should keep supporting its long-term trajectory. If those support levels around $416-$402 hold firm, we could see TSLA make another run at breaking through resistance and climbing toward fresh highs.
⬤ For traders watching this stock, the key is monitoring those critical price levels and momentum signals. A bounce off support would confirm the bullish trend is still intact, while a deeper dip might suggest it's time to be a bit more cautious in the short term.
Peter Smith
