Tesla’s (TSLA) Breakout and Retest in 2019-2020
Tesla (TSLA) experienced a major breakout in late 2019 when it surged past the long-held resistance around $50 (split-adjusted). This breakout was driven by strong earnings, increased production capacity, and growing investor confidence in the company’s future.
After rallying to nearly $100 by February 2020, TSLA pulled back sharply during the COVID-19 market crash, briefly retesting the $50 breakout level in March. The retest held firm, confirming $50 as a strong support level. This validation led to a massive rally, with Tesla soaring past $500 by the end of 2020, marking one of its most explosive growth periods.
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