Tesla Faces Renewed Selling PressureTesla, Inc.NASDAQ:TSLAHKCM_GlobalWhat’s Changed? After the stronger gains from late June into early July, bears recently made another attempt to spark renewed selling in Tesla stock, resulting in a sharp pullback last week. Despite a brief rebound, downward momentum persisted, allowing price to continue moving lower as anticipated. Primary Scenario We currently see TSLA in the final leg of the downward wave, targeting a larger low for the current interim correction. Afterward, price is likely to shift focus back to the ongoing long-term upward impulse and move above the $498.83 level. Alternative Scenario In our alternative scenario, TSLA would climb directly above resistance at $498.83 (probability: 33%). In this case, we would consider the interim correction complete and see price entering the third stage of the long-term upward impulse. Long-Term Outlook On the daily chart, the current downward phase should end just above support at $314.60. The stock is then expected to rise significantly above resistance at $498.83, where we project a major long-term high. However, if price fails to hold above $314.60 support, it would suggest TSLA remains in an earlier stage, still working through a major correction structure (probability: 32%). This would ultimately bring Tesla into the alternative Long-Term Entry Range ($247.64–$189.20), before renewed upward momentum can be expected.