In late May, Tesla shares recovered and consolidated near $430. The tech giant’s financial results for the first quarter (Q1) of 2026 came in above expectations, with revenue climbing to $22.4 billion and key business segments maintaining healthy margins.
The primary engine behind the current rally remains the development of autonomous vehicle technology. Elon Musk has recently announced an expansion of Tesla’s Robotaxi service, which will be launched in three more Texas cities, with plans to scale the project across the entire United States by the end of the year. Advances in Full Self‑Driving technology are another meaningful tailwind for the stock. FSD subscription is now available in Europe, and Musk’s next target is the Chinese market. And this is not all. Last but not least, the launch of two other promising projects—the driverless Cybercab taxi and the humanoid Optimus robot—is on the horizon, set to open new doors for the firm.
The technical setup points to further upside potential, with the next resistance level at $473. If the fundamental and macroeconomic picture remains favorable, the stock will have every chance to hit new all-time highs near $498.
The ultimate recommendation is to buy Tesla shares at the current price, aiming for $473 within one to two months. To mitigate the risk of adverse market movements, place a Stop Loss order slightly below the support level, namely at $39
This content is for informational purposes only and is not intended to be investing advice.
