Tesla has been going through the wringer, between Robotaxi news, tariffs and the ongoing feud between the most powerful man in the world (Trump) and the richest man in the world (Elon). No doubt the news has had its fair share of impact on the stock. But Technicals will always hold more weight than news. I'll breakdown a few reasons why I believe this stock is due for a major run to ATHs
As you can see on this 4H chart, a nice falling wedge is forming and PA is respecting it, even with the wild gaps. On top of this being a bullish pattern, TSLA is also in a crucial area of support within the $290s . If you look back to Jun 9th 2025, you can see Tesla bounced from the 281 level to the 330s which is another indicator of strong support. Not to mention, a the 50 MA crossed the 200 MA on the daily on July 1st which is another bullish indication. The wedge looks to bottom out at the 280 level but I don't see this stock going that low. $290, 291 is an optimal entry to go long.
The long term trend line from April 21st 2025 has not been completely invalidated as of yet. If it retests at 310 and falls back within the wedge, I am still bullish. If price falls under $280, I am bearish. But until then, load up because the next stop is $350 after breakout, then $400, then ATHs. I'm expecting the breakout to happen by earnings or potentially before if this unnecessary feud between Trump and Elon ends.
P.S. I didn't get a good entry on this trade but I have a long position due to expire on the 25th.
Good luck trading.
-AceBoogieWitMe
As you can see on this 4H chart, a nice falling wedge is forming and PA is respecting it, even with the wild gaps. On top of this being a bullish pattern, TSLA is also in a crucial area of support within the $290s . If you look back to Jun 9th 2025, you can see Tesla bounced from the 281 level to the 330s which is another indicator of strong support. Not to mention, a the 50 MA crossed the 200 MA on the daily on July 1st which is another bullish indication. The wedge looks to bottom out at the 280 level but I don't see this stock going that low. $290, 291 is an optimal entry to go long.
The long term trend line from April 21st 2025 has not been completely invalidated as of yet. If it retests at 310 and falls back within the wedge, I am still bullish. If price falls under $280, I am bearish. But until then, load up because the next stop is $350 after breakout, then $400, then ATHs. I'm expecting the breakout to happen by earnings or potentially before if this unnecessary feud between Trump and Elon ends.
P.S. I didn't get a good entry on this trade but I have a long position due to expire on the 25th.
Good luck trading.
-AceBoogieWitMe
Trade active
The breakout looks to be true. Buckle up ladies and Gents 🚀Trade closed: target reached
This 312 area is proving to be a retest of the trend line from April 21st. There is a lot of resistance at this line and for the trend to continue, bull will need to turn that line back to support. This is a good area to lock in some profits if you haven't already.
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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.