Tesla's Stock Rises, But Bulls Still Lack Control

Tesla's stock has risen above the 200-day moving average, signaling a potential uptrend resumption. However, the bigger trend for the stock is still downward, and there are significant resistance levels ahead. To truly break the two-year downtrend, Tesla would need to close above $295 and sustain those gains. Currently, a further rally of at least 34% is required for that to happen. Despite recent volatility, Tesla's stock has gained 78.6% year-to-date.