Tesla Stock Hovers Near $488 Resistance – Can It Break Through?

⬤ Tesla's stock is knocking on the door of a major technical barrier right now, trading just under $488 – a level that's stopped the rally before. The stock has been climbing steadily, working its way back up after earlier pullbacks, and now it's face-to-face with this resistance zone again. Whether TSLA can actually punch through this ceiling is the big question traders are watching.

⬤ The recent price movement tells an interesting story. Tesla has been forming higher lows and building momentum, finally making it back to the $480-$490 range where it previously stalled out. The chart also shows "volume shelf" areas – spots where heavy trading happened before – which give clues about where the stock might find footing.

⬤ What makes this moment particularly important is how Tesla broke free from earlier sideways trading patterns before climbing to where it sits now. The key idea here is simple: if the stock closes decisively above $488, that old resistance becomes new support, which typically means the uptrend can keep going. But until that happens, Tesla's basically testing the ceiling and could bounce back down.

⬤ This matters beyond just Tesla fans. As one of the market's most-watched stocks, what happens at this level could ripple through broader market sentiment. A clean break above $488 would confirm the improving trend and potentially attract more buyers. But if the stock hesitates or pulls back here, it might spend more time stuck below prior highs. Either way, how Tesla behaves around this zone over the next sessions will likely set the tone for where it heads next.