Tesla shares climb as investors rally behind upcoming robotaxi launch and stronger supply chain control.
Tesla stock has climbed to $344.27 as of June 4, marking a 0.5% gain in the last 24 hours and extending its impressive recovery streak.
The company’s shares have bounced back nearly 58% from their April low of $221.86. This powerful rebound is largely fueled by growing excitement over Tesla’s upcoming robotaxi launch and its strides toward supply chain independence, two key developments driving investor optimism.
What’s Powering Tesla’s Rise?
- Bullish technical signals: Tesla’s stock price is currently above both its 50-day ($288.54) and 200-day ($302.39) moving averages, a strong sign the upward trend is holding.
- Momentum indicators: The Relative Strength Index (RSI) is at 60.85 getting close to overbought territory, but still leaving room for gains. The MACD also shows strong bullish crossover activity.
- Price outlook: Analysts see a potential climb toward $370–$380 in the short term. Immediate resistance is at $367.91, with stronger resistance near $376.72. Support levels sit at $339.94 and $333.42.
Next Stop: $380?
If Tesla breaks through the $380 barrier with strong volume, it could trigger the next leg of the rally, possibly pushing the stock to new 2025 highs.
Final Thought:
Tesla’s momentum isn’t just about hype it reflects investor confidence in its tech future. As robotaxis edge closer to reality and Tesla gains more control over its supply chain, the road ahead might be smoother and faster than anyone expected.
Also Read: Tesla Says “No” to Manufacturing in India, Here’s Why!
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