$TSLA: The Market Is Open. What Is This Chart Telling Us Now?
Opening Bell Tape Reading
The initial 15-minute opening print shows buyers stepping in to defend the $350.00–$351.50 support shelf. While the early volume surge reflects post-holiday backlog, price action remains coiling within Friday's high/low boundary.
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The $350 Floor Defense: Sellers attempted an early push down toward $351, but absorption volume stepped in quickly. As long as 15-minute candle closes hold above $350, intraday dip-buyers maintain structural control.
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The $358 Resistance Hurdle $Tesla Motors(TSLA)$ : To ignite a real momentum squeeze, buyers must reclaim and close above $358.00 (50-day SMA cluster). Reclaiming $358 opens the runway for a rapid retest of the $368–$376 upper supply band.
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Volume Confirmation: Early relative volume (RVOL) is elevated. Watch whether buy-side volume stays consistent past the first 30 minutes to confirm true institutional follow-through rather than a simple opening liquidity sweep.
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