The Trust Layer for Market Analysts

The analysis focuses on Tesla (TSLA) using weekly and daily charts. On the weekly chart, TSLA is observed to be trading within a rising channel, with a recent sell signal below 423.54, targeting 331.25 in the next few weeks to months. Support is identified at the weekly channel bottom around 356.54, which could be a significant level if tested. On the daily chart, TSLA is showing a descending channel formation. A break below 390.12, which represents the 38.2% Fibonacci retracement level from the December 2024 high, is seen as a bearish signal. The target for this short trade is identified at 339.57, with potential failure below 407.82. A more extended bearish scenario is posited if TSLA fails to hold above 407.82 and closes below 390.12, potentially testing the longer-term weekly channel bottom around 331.25. A bullish scenario is considered if TSLA can close above 423.54, targeting 497.80, though this is viewed as less likely in the short term due to immediate overhead resistance at 430.22 and longer-term resistance at 537.00 and the six-year channel resistance.