Usman Salis
Tesla's back in the spotlight, and this time it's for all the right reasons. After grinding sideways for months while investors sat on the fence, TSLA finally smashed through that annoying descending resistance line that's been holding it back since late 2023.
The Technical Picture Says It All
The momentum has clearly shifted, and bulls are getting excited about what trader Micro2Marcr0 calls "an easy move for Tesla" - a potential 50% rocket ship to year-end.
The 3-day chart tells a pretty clear story. Tesla's breakout from that long-term downtrend isn't just wishful thinking - it's backed by solid volume and moving average support that's giving bulls all the confidence they need.
Here's what we're looking at:
- Current price: $362 and holding strong
- Next speed bump: $380-$400 resistance zone
- The big target: $540 (that's your 50% moonshot)
- Safety nets: $350 for short-term support, with stronger floors at $300 and $265
That green arrow pointing skyward on the chart isn't just decoration - it's mapping out Tesla's likely path to $540, which happens to be where the next major wall of sellers is waiting.
Why This Rally Makes Sense
The breakout isn't happening in a vacuum. Tesla's got several things working in its favor right now. The technical setup has flipped from bearish to bullish overnight, and that volume accumulation above $300 shows real money is getting involved, not just day traders having fun. The broader market mood is shifting too - with all the talk about rate cuts, growth stocks like Tesla are suddenly looking attractive again. And let's be honest, despite all the competition heating up in the EV space, Tesla's still the king of the hill.
Nothing's ever a sure thing in this game. If Tesla can't hold above $350, we could see a quick trip back to $300 territory. The Fed could always throw a curveball that sends the whole market into a tailspin. And yeah, all those new EV companies are definitely making things more interesting for Tesla, which could make some investors nervous.
Usman Salis
