Tesla Stock Forecast: Triangle Breakout, Price Target $400
Hello traders and investors, today we’re going to analyze Tesla stock on the daily and weekly timeframes.
Currently, Tesla stock is trading at $302. On the daily chart, the market has formed a double bottom pattern and is showing strong bullish momentum. After breaking out of the neckline of the double bottom, Tesla is now forming a symmetrical triangle.
🔺 Key Tesla Technical Setup
As seen in the Tesla chart:
If the upper side of the triangle breaks out, the price may target $400.
Below the pattern, we also see clear RSI divergence and a strong support zone, adding confluence to this bullish setup.
🕐 Weekly Timeframe Confirmation
On the weekly chart, there's a visible order block and structural support, which confirms that the recent drop is likely just a correction, not a complete trend reversal.
So far, there’s no major shift in the bullish structure. The market is holding its ground and could potentially continue the uptrend after the breakout.
✅ Summary:
- 📊 Current price: $302
- 🔄 Pattern: Double bottom + triangle
- 🔍 Indicators: RSI divergence & support zone
- 📅 Weekly view: Order block supports bullish continuation
- 🎯 Target after breakout: $400+
📌 Final Thoughts:
If the market breaks out from the triangle upwards, it could offer a strong buy opportunity. Otherwise, keep watching the key support zones for reaction and confirmation.