A long-term buying opportunity for Tesla stock is coming soon.

Tesla stock has already reached strong support and demand zones on the daily timeframe, and the stock has begun to rebound and rise from these zones, as shown on the chart.

The technical outlook for the stock is currently positive, especially given the recent news supporting the upward movement after UBS upgraded its rating from sell to neutral.

Expected Targets

Currently, if the stock breaks below the downtrend lines and closes above them with a daily candle, we expect to see an upward movement in the coming period, reaching the targets shown on the chart near the $400, $434, and $469 levels, respectively.

However, this bullish outlook will be invalidated if the stock breaks and closes below the current demand zones with a full daily candle.