Marina Lyubimova
⬤ Tesla shares have steadied after this month's drop returned prices to a key technical level. The fall gave a clear retest of the area that once capped rallies and now acts as support, which reinforces the rising trend. On the weekly chart Tesla remains above the former resistance band between $375 and $430 despite the recent swings.
⬤ During 2022 plus 2023 the stock failed repeatedly near this zone, which formed a long term ceiling. When Tesla finally broke through in early 2025 the level turned into a support shelf. The current retreat is the first test of that shelf - the bounce near $430 shows buyers are defending it. Traders read such a retest as proof that the trend is intact - the barrier that used to repel price now underpins it.
The recent decline gave a clean retest of a former resistance zone that has become support confirming the strength of Tesla's broader uptrend.
⬤ The rising structure is intact - since early 2024 each peak and each trough sits higher than the last. Candlesticks at the flip zone show consistent demand. Price may slip a little deeper within the range, but no breakdown has occurred that would endanger the bullish picture. A move back above $450 would add momentum and could start the next advance in line with the year long climb.
⬤ The development carries weight because Tesla remains one of the largest influences in tech but also growth. The stock's hold on this structural support signals confidence even while the sector gyrates. If the zone continues to serve as a floor, Tesla can steady sentiment across high growth names and prepare for the next leg up.
Marina Lyubimova
