Tesla Bullish Breakout Setup: Entry at $295.54 Targeting $488.87

Entry Point (Buy Zone): Around $295.54

Stop Loss: Between $272.94 – $295.54 (lower purple support zone)

Target (TP): $488.87

Current Price: $315.33 (as of the latest candle)

📈 Strategy Summary:

Setup Type: Long (Buy)

Risk-Reward Setup:

Reward: ~$193.33 per share (from $295.54 to $488.87)

Risk: ~$22.60 per share (from $295.54 to $272.94)

Reward:Risk Ratio ≈ 8.6:1 — a high potential payoff if the trade works out.

📊 Technical Context:

Support Zone: Price recently bounced off the support region (marked in purple).

Moving Averages:

Red Line (Short-Term MA): Price just crossed back above.

Blue Line (Long-Term MA): Price reclaimed this level — bullish signal.


Price Action: After a corrective phase, a possible reversal is forming at support, confirming bullish interest.
✅ Bullish Signals:
Bounce from support zone with a strong bullish candle.
Price closing above the 200-day MA (bullish trend resumption).
High reward-to-risk trade setup with clear stop loss.
⚠️ Considerations:
Confirmation with volume or a second bullish candle would add confidence.
Watch for earnings or macro events that could disrupt the trend.
Tight stop is essential to avoid drawdowns if the setup fails.
🔚 Conclusion
This is a well-structured long setup with a high potential reward. If price maintains above the entry zone and breaks recent highs, a push toward the $488.87 target is plausible.