Saad Ullah
⬤ Tesla's been stuck in a holding pattern lately, trading sideways near elevated levels without managing to push meaningfully higher. The stock's been testing resistance around $440 but hasn't broken through yet. What's notable though is that it hasn't really pulled back either—it's just sitting there, consolidating after a solid run-up through late 2024 and into early 2025.
⬤ The weekly chart shows a pretty clear uptrend that kicked off in early 2024, with a rising support line that's caught every meaningful dip since then. Tesla's been bouncing off this trendline repeatedly, creating higher lows along the way. Right now, the stock's holding above the $368 level, which suggests there's no real selling pressure building up underneath. It's more like the market's taking a breather after the previous rally.
⬤ This kind of sideways action at high levels usually sets up the next big move one way or another. As long as Tesla keeps respecting that rising support line, the uptrend stays alive and the technical picture remains healthy. But if the stock breaks below that support, the whole setup changes and we'd be looking at a potential shift in momentum. For now though, it's just building energy while holding its ground above key levels.
Saad Ullah
