Marina Lyubimova
⬤ Tesla's TSLA stock saw a sharp rebound after hitting a long-term support trendline, closing around $404.35. The daily chart shows the price bouncing right off the rising blue trendline that's been supporting Tesla's climb since early spring. This bounce happened after several days of selling pressure pushed TSLA back down to this technically important level.
⬤ The next challenge is for TSLA to push back into the green zone marking the recent breakdown area—roughly between $410 and $430. The stock spent time consolidating in this range before dropping below it, so getting back above this zone would be key for rebuilding upward momentum. Worth noting: Tesla has finished November in the green six out of the past seven years, which adds some seasonal context to how the stock might perform through month-end.
⬤ The overall structure still looks solid, with TSLA staying within a rising channel despite the recent choppiness. The former resistance level that's now acting as support sits below where we are now, which shows the stock is still holding onto gains from earlier this year. The RSI is sitting just above 41, showing neutral momentum after the recent pullback.
⬤ Why this matters: holding that long-term trendline keeps Tesla within its broader uptrend, while reclaiming that $410-$430 zone would help steady things after the recent weakness. With a favorable November history and the stock defending a key technical level, the next few trading sessions will show whether TSLA can build momentum heading into year-end.
Marina Lyubimova
