Tesla Rallies 2.7% as Breakout Targets $480 Zone
$Tesla Motors(TSLA)$
Tesla Inc.(TSLA) Surged +2.70%: EV Giant Breaks Through Resistance, $480 Target Zone Activated
Latest Close Data
Tesla closed at $458.96 on December 15, gaining +2.70% (+$12.07) from previous close of $446.89.
Stock trading just 6.1% below 52-week high of $488.54, showing strong momentum recovery from November lows.
Core Market Drivers
Tesla's rally driven by robust institutional buying flows with $18.167B total inflows vs $17.769B outflows on December 15.
Strong pre-market action at $464.00 indicates continued bullish sentiment. EV sector benefiting from year-end positioning and improved delivery expectations for Q4 2024.
Technical Analysis
Volume surged 56% above average (95.66M shares traded) confirming breakout validity.
MACD golden cross formation with DIF at 6.72 and DEA at 3.28, generating strong bullish momentum signal.
RSI(6) spiked to 69.32, approaching overbought territory but still within healthy uptrend parameters.
KDJ indicators show K-line at 79.81, confirming continuation pattern.
Key Price Levels
Primary Support: $446.21 (previous resistance turned support) Strong Resistance: $463.01 (today's high, critical breakout level) Immediate Pivot: $459.21 (key technical resistance from December 12)
Valuation Perspective
Current P/E TTM at 316.72 appears elevated but Forward P/E of 283 suggests earnings growth expectations.
P/S ratio of 15.96x remains premium to traditional automakers but reasonable for growth-stage EV leader with expanding energy business.
Analyst Targets
42 analysts covering TSLA with average target of $377.50 (18% below current price).
Mixed sentiment: 6 Strong Buy, 18 Buy, 19 Hold, 9 Underperform, 2 Sell.
Target range spans $19.05-$600, reflecting wide opinion divergence on valuation.
Weekly Outlook
Expect consolidation in $450-$470 range as stock digests recent gains.
Break above $463 resistance targets $480-$488 zone (52-week high retest). Volume profile suggests sustained institutional interest supporting higher prices.
Risk Disclaimer
This analysis is for informational purposes only. Trading involves substantial risk of loss. Past performance does not guarantee future results. Consult a financial advisor before making investment decisions.
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