The Trust Layer for Market Analysts

The analysis focuses on Tesla (TSLA) using daily and weekly charts. A one-year rising channel bottom was tested approximately two and a half months ago, suggesting potential selling through the rest of the year. However, an upward rotation is expected within two to three months towards the descending channel top at $451.12, which has been identified as a sellable resistance area. This level was almost tested a couple of weeks ago. The daily chart shows resistance at $448.07. Trading within the range of $430.57 to $448.07 is expected for the rest of the day and potentially the week. A close below $430.57 would signal a meaningful sell-off, potentially retesting the $415.53 level, which is identified as a weekly support level. If TSLA closes below $415.53 today, it would be a significant sell signal. The analysis also highlights the convergence of channel bottom at $388.36 with $381.61, representing a 5/8 Fibonacci level that has not yet been tested but is considered an objective for the next one to two weeks. If TSLA closes below $415.53, this would be a weekly support level, and a move towards the $350s, specifically the $352.31 level, is expected over the next two to three months. Conversely, holding above $352.31 would keep $542.37 within reach by the end of the year, which represents the long-term channel top. A weekly close above $451.12 in the next two to three months could lead to testing $542.37 by the third quarter.