Eseandre Mordi
⬤ Tesla stock is sitting right on top of a critical rising trendline on the weekly chart—a spot where bulls and bears are facing off. After a solid run higher and some choppy consolidation, TSLA has pulled back from recent highs but is still holding above the ascending support line that's been guiding the trend upward for months.
⬤ If Tesla manages to defend this trendline, the chart structure points toward another leg higher instead of a reversal. Past bounces off this same line have sparked renewed buying momentum, proving it's been a reliable demand zone. Volume above current price levels looks pretty light too, meaning TSLA could climb faster if buyers stick around and sellers stay on the sidelines.
⬤ The bearish alternative kicks in if Tesla loses this trendline on a weekly close. Below the line sits a volume vacuum—an area where not much trading has happened historically. That kind of setup could send price sliding quicker toward the $360 zone, the next major area worth watching. A breakdown would signal that sellers are taking control and the trend structure is cracking.
⬤ This matters because Tesla is right at the decision point after digesting its earlier gains. How this consolidation resolves will likely determine whether the bigger uptrend stays alive or shifts into a deeper pullback. With price balanced on trend support right now, the next few weekly closes could set the tone for where TSLA heads next.
Eseandre Mordi
