Tesla shares still have an upside potential following their recent rebound to $340. Over the past week, the stock has gained more than 4%, supported by lingering expectations around the company’s new products and the accelerating growth of its autonomous driving segment.
Whispers of an upcoming presentation of the next-generation Roadster—potentially as early as this August—are another tailwind for Tesla shares. The model is rumored to incorporate technologies developed in collaboration with SpaceX, such as cold gas thrusters. Although the actual commercial impact of the project is likely to be limited, the unveiling itself could reinforce Tesla’s investment appeal, confirming the company’s gradual transformation from an electric vehicle manufacturer into a broader technology platform capable of generating profit beyond EV sales.
That said, the firm’s lofty valuation should not be overlooked. Most of the mentioned developments have already been priced in, with the market almost fully convinced that Tesla’s future projects are destined for success. But even a smooth launch of the Cybercab may not be enough to sustain the rally if the tech giant fails to quickly scale up its fleet of robotaxis, ensure high vehicle utilization, and demonstrate the project’s economic viability.
The technical setup also deserves attention. Following a recovery from local lows, the stock has climbed dangerously close to the important $340–$350 resistance zone. If prices manage to break through this barrier and settle above $350, it could signal the start of a more sustained rally. Then, the path toward other critical levels, including $370, would open up.
The final recommendation is to buy Tesla shares at the current price of $338, targeting $370 within a couple of weeks. For better risk management, place a Stop Loss order at $325.
This content is for informational purposes only and is not intended to be investing advice.
