Tesla (TSLA) to Soar 92%?...'This Level' Breaks, It's All for Nothing

▲ Tesla (TSLA)/AI Generated Image

As Tesla (Tesla, TSLA) stock price explores its direction around $394, an analysis suggests that an upward pattern capable of a 92% jump to $759 has been detected on the charts. However, the target price will only open up if a breakthrough above $470 is confirmed, and conversely, if $350 collapses, the bullish scenario itself becomes invalidated.

According to BeInCrypto, a cryptocurrency-focused media outlet, on July 10 (local time), Tesla's weekly chart showed a 'Cup and Handle' pattern formed between a high around $480 at the end of 2024 and a low around $240 in mid-2025. The stock price rebounded to around $480 in December 2025 before being pushed down again, with the decline to the April 2026 low analyzed as forming the 'handle' section. Trading volume decreased during the pattern formation period, and the weekly Relative Strength Index (RSI) hovered slightly below 50, indicating a neutral trend.

The chart's target price is $759. However, BeInCrypto pointed out that this target price scenario will only activate if the weekly closing price definitively breaks above the $470 resistance level. Based on the current level around $394, the potential rise to $759 represents approximately a 92% increase, and if calculated from the $470 breakthrough point, it corresponds to an additional increase of about 61%. Despite record quarterly delivery results, Tesla's stock price fell 7% earlier this month, leaving investor sentiment still uneasy.

On the daily chart, a symmetrical triangle pattern has been ongoing since the high around $490 in December 2025. The stock price has reached approximately 80% of the way to the triangle's apex, with $415 suggested as a short-term resistance level and $380 as a support level. According to Quiver Quantitative data, 1,987 institutions increased their Tesla holdings last quarter, while 1,559 institutions reduced them. Tesla's stock price rose 8% after the launch of FSD v14 Lite at the end of June, but those gains diminished within a few days.

The first gateway for the upward trajectory is $415. Breaking this resistance level opens the path to $470, and if the weekly closing price exceeds $470, the $759 target price of the Cup and Handle pattern becomes valid, according to the analysis. Conversely, if $380 collapses, the $350 support level will be the next test, and if the weekly closing price closes below $350, both the weekly and daily chart patterns will be invalidated.

BeInCrypto analyzed that the decreasing trading volume and the Relative Strength Index remaining in neutral territory indicate that neither buyers nor sellers have yet taken control. Amid the U.S. Federal Court's approval of the settlement between Elon Musk and the U.S. Securities and Exchange Commission (SEC) on July 8, whether the future weekly closing price approaches the $470 or $350 boundary has been presented as a key judgment criterion on the charts.

[Article Key Summary]

-Tesla's weekly chart's Cup and Handle pattern suggests a $759 target price upon breaking $470, representing an approximate 92% increase from the current level.

-On the daily chart, $415 is a resistance level and $380 is a support level, and 1,987 institutions increased their Tesla holdings last quarter.

-If the weekly closing price falls below $350, both the weekly and daily chart's bullish patterns will be invalidated.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*