Although Tesla has been trading choppy recently, the overall structure still leans bullish. There is a heavy confluence of resistance from higher timeframes (1M / 6M) in the 383–387 zone, which is a major area to watch.
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.
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🔑 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
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🧠 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
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⚠️ 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
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🚀 Bullish Scenario
If we:
* Break and reclaim 387 as support
👉 Then upside opens toward:
* 397
* 410 (over coming weeks/months)
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❌ Bearish Risk
* Lose 376.60
👉 Structure weakens and this could turn into a failed breakout / deeper pullback
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💬 Summary
“TSLA remains bullish structurally, but 383–387 is the battleground. What happens there will decide the next major move.”