Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Tesla Stock Breaks Out of Downward Channel, Is a Rally to $494 Next?

Tesla Stock Breaks Out of Downward Channel, Is a Rally to $494 Next?

CryptoFrontNews2025/03/01 16:00
By: Timothy Munene
USDC+0.02%RLY0.00%
Tesla’s TD Sequential buy signal hints at a potential trend shift after sharp declines, with support at $273.60 and resistance at $309.00. A breakout from the downward channel suggests bullish momentum, with projections targeting $494 by mid-May 2025. Price action and technical indicators signal a possible reversal, though selling pressure remains a key factor in short-term movement.
  • Tesla’s TD Sequential buy signal hints at a potential trend shift after sharp declines, with support at $273.60 and resistance at $309.00.
  • A breakout from the downward channel suggests bullish momentum, with projections targeting $494 by mid-May 2025.
  • Price action and technical indicators signal a possible reversal, though selling pressure remains a key factor in short-term movement.

Tesla’s stock closed at $292.98 after a decline of $9.82 or 3.24% on the three-day chart. The session’s high reached $309.00, while the low touched $273.60. The overall trend remained bearish, with consecutive downward candles reinforcing selling pressure . A gray trendline extended from a previous peak, confirming a break below a support zone.

Tesla Stock Breaks Out of Downward Channel, Is a Rally to $494 Next? image 0 Tesla Stock Breaks Out of Downward Channel, Is a Rally to $494 Next? image 1 Source: Ali

Two red arrows labeled “A13” and “S13” indicated resistance levels earlier on the chart. A black upward arrow with the number “9” signaled a potential inflection point. The latest candle exhibited a long lower wick, indicating an attempt to recover intraday losses. The price action showed a series of lower highs and lower lows, maintaining the downward trend.

No volume data appeared on the chart, but selling pressure intensified, leading to one of the sharpest declines. Key support emerged at $273.60, where buyers stepped in to prevent further losses. Resistance remained at $309.00, where the stock failed to sustain upward movement . The chart, sourced from TradingView, featured branding from ali_charts. The date on the chart was March 1, 2025.

Breakout from Downward Channel Indicates Potential Trend Shift

Tesla’s daily timeframe chart displayed a downward channel , marked by two parallel white lines. The price bottomed at $274 before rebounding, forming a local support level. A yellow circle highlighted a key price action area, marking a possible trend reversal. A blue curved projection indicated a potential upward movement, targeting $494 by mid-May 2025.

Tesla Stock Breaks Out of Downward Channel, Is a Rally to $494 Next? image 2 Tesla Stock Breaks Out of Downward Channel, Is a Rally to $494 Next? image 3 Source: Mike

A price breakout occurred near $292.98, marked by a yellow arrow. The previous consolidation zone, outlined in a white rectangular box, reflected a stabilization phase before the decline. The chart showed Tesla’s stock moving upwards, gaining 3.91% on the day. A green-shaded area represented a potential profit zone, while a red-shaded region signaled downside risk.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

CandyBomb x ZBT: Trade futures to share 100,000 ZBT!
Bitget Announcement2025/10/17 13:30
Bitget Builder+ Initiative is now recruiting!
Bitget Announcement2025/10/17 11:00

Trending news

More
1
CandyBomb x ZBT: Trade futures to share 100,000 ZBT!
2
Bitget Builder+ Initiative is now recruiting!

Crypto prices

More
Bitcoin
Bitcoin
BTC
$107,771.27
+0.60%
Ethereum
Ethereum
ETH
$3,929.92
+1.15%
Tether USDt
Tether USDt
USDT
$1
-0.00%
BNB
BNB
BNB
$1,101.55
-0.83%
XRP
XRP
XRP
$2.39
+1.20%
Solana
Solana
SOL
$189.4
+1.92%
USDC
USDC
USDC
$1.0000
+0.00%
TRON
TRON
TRX
$0.3177
+1.51%
Dogecoin
Dogecoin
DOGE
$0.1955
+4.23%
Cardano
Cardano
ADA
$0.6440
+1.25%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter