Core Viewpoint - Tesla's stock is entering a bullish phase, with expectations of a rally towards the $600 mark ahead of its Q3 earnings release [1][4]. Stock Performance - Tesla shares are currently trading above the $400 level, closing at $442, which is a 1% decrease for the day but nearly a 10% increase year-to-date [1]. - The stock has completed a bearish correction and is forming a new bullish leg within a rising channel pattern [3]. Technical Indicators - The stock has held above the 50-day moving average, a key level that historically signals the start of major upward moves [3]. - The previous bullish leg resulted in a 59% rally, and if the current pattern follows suit, it could surpass the $600 long-term target [4]. - Momentum indicators like the MACD are nearing a bullish crossover, and the RSI has shown renewed strength after a consolidation period [5]. Fundamental Analysis - The sentiment around Tesla has improved despite earlier challenges, including declining sales and backlash over CEO Elon Musk's political views [6]. - The upcoming earnings report is anticipated to reignite investor interest, with a target to reclaim the $500 resistance zone [6]. Q3 Earnings Expectations - For Q3, Tesla reported deliveries of 497,000 vehicles, with consensus estimates projecting earnings per share of $0.53 on revenue of $26 billion [8]. - Investors are also concerned about structural challenges, such as the expiration of the $7,500 U.S. federal EV tax credit, which may impact future demand and financial performance [8].