Technical analysis by httpz about Symbol TSLAX: Buy recommendation (8/9/2025)

Tesla’s long-term bullish structure remains intact on the 2-month logarithmic chart, with price breaking out of a two-year ascending triangle capped near $350. This move tests the 78.6% retracement level at $347, opening the door to Fibonacci extension targets at approximately $595, $892, and $1,189 if momentum follows through. The volume profile highlights strong historical support in the $180–$250 range, a key zone to defend on any pullback. Notably, the macro backdrop adds a tailwind — the last significant Fed rate cut in early 2020 coincided with Tesla’s parabolic advance, and the next major cut is projected for late 2025. Long-term momentum indicators are turning higher, suggesting the early phase of a new bullish cycle. A sustained hold above $300 on any retest would reinforce the breakout, while a drop back under $280 risks a move toward $200–$220. I wouldn't want to be short long term.