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Tesla Stock Technical Setup: Inverse Head & Shoulders Pattern Taking Shape
The inverse head and shoulders formation is continuing to develop on Tesla's chart, signaling potential upside momentum ahead. This reversal pattern has traditionally marked bullish turning points in markets.
The key level to watch is $488. A breakout above this resistance mark would confirm the pattern completion and likely trigger the anticipated upward move. Once price clears this zone, we could see meaningful momentum kick in.
For traders monitoring TSLA, this technical setup presents an interesting opportunity as the pattern nears its critical juncture. The confluence of technical support and this recognizable formation makes the next move particularly important.