Tesla (TSLA) has surged over 53% in the past four weeks, largely driven by renewed investor optimism around its developments in artificial intelligence and robotics, along with Elon Musk's confirmed commitment to remain as CEO for the next five years. While the rally has been strong, there are key factors that require attention. Tesla’s sales in China are still down 24% compared to the same period last year, and competition continues to grow—most notably with the release of the Xiaomi YU7 electric SUV. At current levels, Tesla’s valuation is elevated, which increases pressure for the company to deliver strong earnings and growth. Technically, the stock is approaching key support levels around $289 and $271 (close to the 50-day moving average), while potential resistance may emerge near $430 and $489. I personally am not rushing into the trade; I’m watching for a proper technical setup, including a healthy pullback and strong volume confirmation. As always, I rely on my full 20-point entry checklist before taking any position. I trade with discipline, risk control, and full transparency.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.