Tesla: Resistance

The $362.80 resistance level currently represents a critical threshold during the ongoing wave (V) movement. After the price initially failed to break this level in late November, another rejection at the start of the week highlighted the significance of this barrier. A sustained move above $362.80 should unlock further upward momentum; the magenta wave (iii) should have sufficient strength to carry the price beyond the $400 mark. While a setback toward new lows remains 25% likely, we primarily assume that the correction phase is finished, and the price is now positioned in an extended upward trend.