Tesla… can we reclaim 378?!
On the broader chart, price continues to form higher highs and higher lows, and I can map out a rising wedge structure. We recently bounced off the uptrend support, which keeps the bullish structure intact for now.
Previously, we were in a clear downtrend into the 350 support, and since then price has broken above that downtrend resistance, which is a significant shift in structure.
⸻
🔑 Key Levels
* 374 area → strong support
* 376.60 → major level (must hold to maintain bullish bias)
* 379 → short-term breakout level
* 383–387 → heavy resistance zone
⸻
🧠 Current Thesis
This current price action could be a backtest of the breakout from the prior falling wedge.
If price can:
* Hold 376.60 as support
* Break and hold above 379
* Start pressing into 383
👉 Then we have a real chance to test 387
⸻
⚠️ The Real Decision Zone
387 is the key level
* This is where I expect major resistance and potential struggle
* Not fully confident we clear it on first attempt
⸻
🚀 Bullish Scenario
If we:
* Break and reclaim 387 as support
👉 Then upside opens toward:
* 397
* 410 (over coming weeks/months)
⸻
❌ Bearish Risk
* Lose 376.60
👉 Structure weakens and this could turn into a failed breakout / deeper pullback
⸻
💬 Summary
“TSLA remains bullish structurally, but 383–387 is the battleground. What happens there will decide the next major move.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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