The largest electric car maker by market capitalization is facing a key short-term technical scenario. Tesla is struggling to break out of the upper band of its broad sideways-to-bottom channel that began in October 2021 (at that time it was trading above $420). The zonal range between $280 and $285 are now the hurdle to beat. Its definitive overcoming in weekly closing prices would put an end to the bearish trend developed during the last 18 months.
![](https://n2bolsa.com/wp-content/uploads/2023/07/tesla230707.png)
Should this scenario be confirmed, $313 would become the next target to reconquer. Its definitive overcoming would confirm a second bullish continuation signal whose projection could catapult the stock towards the last major monthly high around 360 dollars recorded in April 2022. Below, the range around 235-240 dollars is, for the moment, the reference to watch. Its breakout would trigger a first sign of trend weakness whose target could take the stock towards the $210 area.
Support: $260, 235,240, $210, $200
Resistances: 285, 313, 330, 360 dollars
Targets: (bullish) 313, 340, 360, 410 (bearish) $240, 205, 180, 145 zonal dollars