Usman Salis
⬤ Tesla is right back at a critical spot on the chart. After sliding down to the $420 area, TSLA has been climbing steadily into early February — and now it's knocking on the door of a descending trendline on the one-hour timeframe. If the stock can punch through that resistance cleanly, the next realistic target is $450.
⬤ Here's the thing — the price action is squeezed between two well-mapped zones. Up top, resistance is piling up between $439 and $443, right where the trendline sits. Below, there's solid support around $430, and a stronger floor near $419 that already stopped a sharp drop once. TSLA is grinding sideways in this range after a wild late-January swing.
⬤ Short-term momentum is actually looking decent — TSLA has been making higher lows since the bounce off support. But that trendline hasn't broken yet, and it already rejected price once before, so it's clearly a line in the sand. The real question is whether Tesla can close and hold above it.
⬤ This matters beyond just TSLA. Tesla moves sentiment across the entire tech and growth trading space. With price locked between clear support and resistance, whichever way this trendline breaks is going to give the broader market a pretty strong signal on where things are headed next.
Usman Salis
