Alex Dudov
⬤ Tesla Inc. shares staged a comeback after bouncing from a well-marked support area around $395. The recent move up satisfied the minimum technical bounce requirement, letting traders lock in risk-free positions. The stock has now settled into the mid-$440 range after pulling back in late November.
⬤ The price action shows TSLA working through a correction phase following its earlier run-up. Selling momentum dried up near the support zone where buyers jumped in to defend those levels. With the invalidation mark sitting at $381 still holding firm, the bounce remains technically sound and downward pressure has eased for now.
⬤ The rebound lines up with what Elliott Wave analysts typically watch for—a minimum corrective move that once completed, allows price to shift upward in a more measured way. Since bottoming out, Tesla has been making higher lows, pointing to near-term stabilization rather than explosive momentum. While the bounce shows renewed buying interest, the overall structure suggests the market is consolidating instead of picking a strong direction.
⬤ This move matters for broader market sentiment since Tesla carries weight across major equity indices and the tech sector. When a stock like TSLA holds key support levels, it can calm near-term volatility and give traders a clearer technical picture. As long as the stock stays above that $381 invalidation zone, the recovery thesis stays intact. A drop below would shift the short-term outlook and bring downside risk back into play.
Alex Dudov
