Price of action of Tesla (TSLA) stocks closed above 200 last week at about 202.50. This cleared a falling trendline seen in the daily chart below.TSLA Daily Chart 12/19(click to enlarge)Breakout Complete:- Last week, Tesla came up to the falling resistance, which coincided with the 200 psychological level.- After a couple of tentative sessions just under 200, price eventually popped up to close the week above this critical level.- The breakout first opens up the 215 area, around the October highs and where the 200-day simple moving average (SMA) resides. - The 239-240 area is the next common resistance. Look Out for False Breakout:- If price fails to hold above 200 this week, the bullish outlook would be shaky .- If TSLA closes below 196.40, we should consider last week's breakout a false breakout.- A false breakout would be a bearish signal first to the pivot at 190, but also back towards the Nov-Dec. lows around 180. - In this false breakout scenario, the most aggressive bearish outlook would be to the 168-170 area. This area involves a support/resistance pivot and the 78.6% Fibonacci Retracement level.