$Tesla Motors(TSLA)$ $Direxion Daily TSLA Bull 2X Shares(TSLL)$ $YIELDMAX INCOME(TSLY)$ ⚡️📉📈TSLA’s $328 Showdown: Trapdoor or Turbo Boost?📈📉⚡️
Stayed long $TSLA and still holding above that $342 magnet. My near-term target remains $355.55, but let’s be honest, what’s happening now runs deeper than a standard breakout test. This is where technical precision meets narrative distortion, and positioning gets tactical.
The chart shows Tesla is turning down to test the $328.72 level. That isn’t failure, it’s a calculated retrace aligning perfectly with a wave 2 correction in an Elliott Wave impulse. Wave 1 peaked near $342, and if $328 holds, we could be gearing up for wave 3 targets around 407.62 and 420.69, and wave 5 potentially stretching toward 453.25. Lose 328 and we risk falling toward the $310 range, but I’m still leaning bullish as long as this level holds.
Volume and flow tell the real story.
Yesterday saw over $130M in net single-leg call buying, aggressive, short-dated, and directional. Today, things cooled: $40M in calls sold, $19M in puts picked up. This is standard rotation after explosive action. Tesla’s options volume remains on top of the board with 3.51M contracts traded, and spot volume surged again to 51.15M shares. This isn’t panic, it’s pacing.
Zoom in on strikes and structure and you’ll see the $340 level acting as a gamma wall. That makes it the real battleground, break it with volume and we squeeze higher, fail to hold it and we slip back into the $328 retest zone. All eyes are on $351.39 as the neckline and pivot. That’s the level that triggers a technical confirmation and starts forcing market makers to reposition.
And let’s not ignore the macro driver helping fuel this.
Bank of America reports that US equity funds are tracking toward $360 billion in inflows this year, the third-largest annual total in history. Risk-on capital rotation is real, and Tesla, as a high-beta AI-adjacent growth name, is soaking it up. The Fed has paused, the VIX is calm under 20, and inflation is down near 2.5%. Liquidity is flowing back to innovation, not defence.
Yet right on cue, the mainstream media ramps up fear.
Coordinated headlines are flying about Tesla robotaxis in Austin driving the wrong direction, stopping mid-lane, and a vague “NHTSA letter” alleging safety issues. None of this is new, that NHTSA letter was sent weeks ago and contains no penalties, just informal concern. Tesla’s response was marked confidential, and the media’s spun that silence into chaos. This is textbook short-seller manipulation. Timed perfectly after call sweeps, it’s designed to shake conviction and create exits for over-levered bears.
The bigger picture?
Tesla’s Austin robotaxi launch is underway. Early user reports haven’t shown critical failures. It’s not about mass rollout yet, it’s about proving functionality and anchoring valuation to a scalable AI transportation model. That’s why names like $TSLL and $TSLS are now trading alongside $TSLA with tight correlation. This is becoming a structural trade.
The Elliott Wave setup is holding, and all technical levels are aligning:
✅ Wave 2 retracement to 328.72 (61.8% Fibonacci)
✅ RSI stabilising at 52, not oversold
✅ Price testing the 50-day moving average, a key historical support
✅ 20-day EMA at 335 acting as a short-term barometer
✅ MACD bullish, still above signal
Now let’s talk sentiment and analyst targets.
Goldman Sachs reiterated a neutral rating with a $287 price target, citing slow robotaxi scaling. But that’s just one side of the ledger. Dan Ives at Wedbush is pushing $400, calling the robotaxi plan an “autonomous spark.” Piper Sandler agrees with a $400 base case. And ARK Invest is projecting $2,600 by 2029 if autonomy becomes the core value driver. The market’s digesting this spectrum and choosing the narrative it wants, and right now, it’s leaning toward momentum and tech positioning.
I’m not blind to the risks.
If $328 cracks with conviction, I’ll look for support around $310 near the 200-day MA. I’m also watching for VIX spikes, headline risk out of DC or geopolitical shocks. But the current backdrop still favours momentum to the upside if positioning holds.
Here’s what’s on my forward watchlist:
✅ $328.72, critical support zone. Hold it, and wave 3 is alive.
✅ $340, gamma wall. Watch options flow for absorption or rejection.
✅ $351.39, neckline breakout zone. Close above this unlocks 370.
✅ 407.62 and 420.69, wave 3 extension targets.
✅ 453.25, full wave 5 upside potential.
✅ Q2 delivery numbers, expected soon, with consensus at 466K.
✅ NHTSA news flow, if Tesla publicly addresses it, expect a rip.
✅ Earnings risk, forward guidance must justify the robotaxi premium.
Bottom line?
TSLA is no longer just an EV stock. It’s an institutional risk barometer, an AI proxy, and the psychological tug-of-war between innovation and inertia. I’m staying long, watching levels with precision, and blocking out the media noise.
This is not a breakout to chase blindly, nor a sell-the-news moment. It’s a strategic pivot point. Either we trapdoor under $328 and reload lower, or we turbocharge toward a fresh leg higher.
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Another absolutely great Tesla insight! 😻
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Great article, would you like to share it?
Great article, would you like to share it?