TSLA price is currently around 283.86, testing a key resistance zone around 298.72 after rebounding from a support level near 225.80. Despite the recent bullish weekly candle, the medium-term trend remains bearish as price stays below the 20-week moving average.

TSLA has made a sharp bounce from oversold territory and is now approaching the midline of the Bollinger Bands. The resistance at 298.72 coincides with the 20-week moving average, making it a significant technical barrier. Volume has increased during the rebound, indicating buying interest, but the MACD histogram is still below zero, suggesting bearish momentum persists.

The MACD line is beginning to converge toward the signal line from a deeply negative position (MACD: -13.030, Signal: -5.003), hinting at a potential bullish crossover in the coming weeks if the price can sustain higher. However, the rejection from current resistance could reestablish the prior downtrend.

Market Observation & Strategy Advice
1. Resistance Level: 298.72 – A key resistance zone overlapping with the 20-week moving average; critical for bulls to break through for a sustained rally.
2. Current Price: 283.86 – Price is approaching resistance but still within the lower half of the Bollinger Band range.
3. Support Level: 225.80 – The recent bounce was initiated from this major support zone, which has historically acted as a demand area.
4. Momentum Observation: MACD remains in bearish territory, though showing early signs of recovery. Bollinger Bands are still wide and downward-sloping, indicating elevated volatility and a prevailing downtrend bias.
5. Strategy Advice:

• Bullish Continuation: Watch for a weekly close above 298.72 with strong volume to confirm breakout potential and open path toward 340–360 zone.
• Bearish Rejection Setup: A bearish candle near current resistance can validate a short entry targeting a retest of 250 or 225.80.
• Avoid long entries unless MACD shows a confirmed bullish crossover and price holds above the moving average.
• Neutral Bias: If price remains between 225.80 and 298.72, expect range-bound movement with choppy momentum.

Market Performance:
Stocks Last Price % Change
AAPL        213.32        +0.39%
NFLX         1,133.47     +0.15%

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