After Tesla (TSLA) showed that its 1st Quarter deliveries beat estimates, the market bought up its share price. According to Fortune.com, Shares quickly rose to an all-time high of $294.15, though the price later pulled back a bit. Monday’s increase pushed Tesla’s market cap to over $47.8 billion, which easily surpasses Ford’s $45.2 billion.That Tesla now outvalues Ford is pretty remarkable considering the electric car maker was founded by Elon Musk in 2003. Tesla sold 76,000 cars last year, compared to 6.7 million for Ford, whose sales have been lagging. General Motors, whose $50.8 billion market cap would be the next valuation Tesla stands to leapfrog, sold 10 million cars last year.Although Tesla sales are meager compared with other players in the industry, they are forecast to grow this year. (Full Article on Fortune.com)Let's take a look at Tesla's stock price chart:TSLA Weekly Chart(click to enlarge)Bullish Continuation Breakout:- Looking at the weekly chart, we can say that Tesla's share price has been consolidating since 2014. - This week only just began, but there is a strong possibility that it will close above the previous record high of about 291.40. - At this point, if price retreats, we should anticipate support in the 265-280 area, which represents the resistance area of the consolidate range we just noted.