Tesla stock nears all-time high after yearlong wait

Tesla shares (TSLA) powered ahead on Monday, blowing past their 2025 high. Although investors cashed in some profits as the market closed, the stock still ended the day with a solid 3.5% gain. For bulls, the finish line is now in sight: last December's all-time peak at $488. With less than 3% left to climb, hitting this milestone is all but a done deal in the coming days.

On the daily chart, the RSI has pushed into extreme territory, though the weekly technicals have so far avoided the same overbought reading due to November's corrective pullback. Meanwhile, the Stochastic Indicator on both timeframes has given buyers the green light. The odds are stacked in favor of a further hike, owing to the steady climb from April's low—a trend that is riding the support of the middle Bollinger Band. The upper band, hovering near $490, won’t start putting the brakes on this rally until the stock gets within striking distance.

The buying frenzy was fueled by Tesla clearing a major hurdle: testing its driverless robotaxi without a human—even as a backup. The company is now in the home stretch toward the full commercial rollout next year with its “Cybercab,” a dedicated autonomous car that does away with the steering wheel and pedals for good.

Wedbush analysts believe this breakthrough could be the missing piece of the puzzle to propel Tesla toward $600 per share. By late 2026, Elon Musk's robotaxis are expected to hit the streets in over 30 US cities. In this race, the giant's only real competitor is Alphabet's Waymo. But here's the catch: Alphabet has to rely on third parties for both vehicles and most of the sensor tech, while Tesla builds the whole package from the ground up. When it comes to scale, Tesla leaves Waymo back in the dust—the latter's fleet of roughly 2,000 taxis is just a drop in the ocean compared to what Musk has in the pipeline. 

The plan down below may come into play for your trading:

Buy TSLA at the current price. Place Take profit at $490. Set Stop loss at $455.