Tesla Inc. (NASDAQ: TSLA) broke out of a pennant formation, surging 12% in three sessions. The stock closed near $335, consolidating in the $330-$340 range. Momentum traders are watching for sustained movement above $320, with $350 as the next test. Analysts are split, with Wedbush bullish and Goldman Sachs cautious.

Tesla’s recent breakout is supported by a rebound in sentiment despite mixed Q2 earnings. Revenue dropped 12% YoY to $22.5 billion, missing estimates. However, margins stabilized and Elon Musk’s tone was optimistic about the long-term outlook. The company continues to navigate competition and macro conditions effectively.

Bullish sentiment for Tesla remains, with $360 as the next target for investors. Analysts have varying views, with Wedbush bullish and Goldman Sachs cautious due to valuation concerns. Tesla’s valuation is stretched, but improving sentiment, market support, and bullish technicals suggest a potential run towards $360 if $350 is cleared.

Read more at Nasdaq: Tesla’s Breakout: Why This Rally Looks Far From Over