Tesla (TSLA) shares come into the week trading at their highest levels in more than two months, as the stock has gained ground in 澳洲幸运5官方开奖结果体彩网:each of the last three weeks.

The stock started gaining traction late last month after CEO Elon Musk, during the company’s 澳洲幸运5官方开奖结果体彩网:first quarter earnings call, said he would spend less time at the Department of Government Ef🍰ficiency, or "DOGE," and more time at his job at the company.

More recently, Tesla shares received a boost after the Trump administration announced a trꦛade agreeme🎀nt with the U.K. and suggested that more were on the way. Trade news will likely set the tone this week also after Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer 澳洲幸运5官方开奖结果体彩网:flagged "substantial progress," in U.S.-China trade talks held over the weekend, adding that details would ♑be discussed on 🐲Monday.

Tesla shares have recovered about 40% from last month’s low. However, the stock is still down 26% since the start of the year through Friday's close, due in part to concerns that Musk’s involvement with the Trump administration could be weighing on the automaker’s sales.

Below, we take a closer look at Tesla’s chart and use 澳洲幸运5官方开奖结果体彩网:technical analysis to point out c🍨rucial price le꧙vels that investors will likely be watching.

Triple Bottom Confirmation

Tesla shares forged a 澳洲幸运5官方开奖结果体彩网:triple bottom on the chart between early March and late April, setting the stage for a bullish r☂eversal.

Indeed, the stock confirmed the pattern in Friday’s trading session, breaking out above the formation’s neckline and closing above the closely watched澳洲幸运5官方开奖结果体彩网: 200-day moving average (MA). Moreover, the 澳洲幸运5官方开奖结果体彩网:relative strength index signals bullish price momentum and sits comfortably below 澳洲幸运5官方开奖结果体彩网:overbought levels to provide ample room for further upside𝓰.

Let’s identify two crucial overhead areas on Tesla’s chart where the shares may encounter 澳洲幸运5官方开奖结果体彩网:resistance and also locate key 澳洲幸运5官方开奖结果体彩网:support levels to monitor during future retracements.

Crucial Overhead Areas to Watch

Tesla sha💮res gained nearly 5% on Friday to around $298, the highest closin🌃g level since Feb. 25.

Further buying this week could see Tesla bulls drive a move up to the $360 area. Investors who have 澳洲幸运5官方开奖结果体彩网:accumulated shares at lower prices may look for 澳洲幸运5官方开奖结果体彩网:exit points at this location near a trendline that connects last year’s November twin peaks with this year’s February 澳洲幸运5官方开奖结果体彩网:countertrend swing high.

Buying above this area may see a rally toward $430. This level on the chart could provide selling pressure near the January peaks, which also closely align with the trough of the first pullback after the stock set its 澳洲幸运5官方开奖结果体彩网:record high last December.

Key Support Levels to Monitor

The first level to watch during retracements sits around $289. This area on the chart provides a 澳洲幸运5官方开奖结果体彩网:confluence floor from the nearby 200-day M🥀A and the triple bottom pattern’s neckline, w𒊎hich may flip from an area of prior resistance into future support.

Finally, selling below this level could see Tesla shares revisit lower support at the $225 level. Investors may seek buying opportunities in this region near the thre🍒e prominent troughs that mark the triple bottom’s low.

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