Watch These Tesla Price Levels as Stock Surges to 15-Month High

Tesla Stock Performance and Technical Analysis - Tesla shares surged 15% to $288 53, reaching a 15-month high, driven by investor optimism around potential benefits from Donald Trump's return to the presidency and the company's robotaxi ambitions [3] - The stock has more than doubled from its April low, supported by plans to start production of a lower-cost model vehicle next year [3] - Tesla shares have been trading within an ascending triangle, a bullish chart pattern indicating a continuation of the uptrend that began in April [1][4] Key Price Levels to Monitor - The $300 level is a critical overhead resistance point, where selling pressure may emerge near the psychological round number and July 2023 swing high [6] - Applying the measuring principle, an upside target of $350 is projected, calculated by adding the depth of the ascending triangle ($85) to the pattern's top trendline ($265) [7] - Support levels to watch include $265, near the ascending triangle's top trendline, and $230, a horizontal line connecting price action from November 2023 to September 2024 [8][9] Technical Indicators and Momentum - The relative strength index (RSI) confirms bullish momentum with a reading approaching 70, though it also signals nearing overbought conditions that could lead to short-term profit-taking [5] - A decisive volume-backed breakout on Wednesday indicates strong conviction behind the move, potentially opening the door for further upside [4]