30.04.2025
Dmytro Kharkov
Dmytro Kharkov
Editor at Traders Union
30.04.2025

Tesla stock surges to $292 as investors rally behind robotaxi plan

Tesla stock surges to $292 as investors rally behind robotaxi plan Markets are currently buoyed by optimism around a near-finalized global trade agreement

​As of April 30, Tesla stock is trading at $292.03, up 2.2 percent in the past 24 hours. This continues a strong rally that has added over 25 percent to the stock’s value in the past week alone. 

Investors are responding positively to the recent announcement by Elon Musk regarding the unveiling of a robotaxi platform in August, which has reinvigorated long-term growth expectations. Additionally, the easing of tariff-related concerns between the United States and China has helped reduce pressure on Tesla's global operations, especially its Shanghai Gigafactory output.

From a technical standpoint, Tesla is currently exhibiting a strong bullish trend. The stock is trading well above its 50-day and 200-day simple moving averages, signaling sustained upward momentum. The Relative Strength Index (RSI) stands at 76.5, which is in overbought territory, suggesting the possibility of a near-term consolidation or minor pullback. The MACD indicator is also positive and expanding, with a histogram confirming upward momentum.

TSLA stock price dynamics (February 2025 - April 2025). Source: TradingView.

A crucial area to watch is the resistance zone between $285.87 and $286.20. This zone is defined by overlapping Fibonacci retracement levels and prior support/resistance lines visible across multiple time frames. If Tesla manages to break through and sustain above this level, the stock could accelerate toward the psychological resistance at $300. On the downside, key support levels are found at $246.82 and further down at $224.20. A failure to hold current levels could see the stock retracing toward these support zones, especially if broader market conditions weaken or sentiment turns risk-averse.

Market conditions: optimism meets policy uncertainty

Tesla’s recent rally is occurring within a favorable, though complex, macroeconomic and geopolitical environment. Markets are currently buoyed by optimism around a near-finalized global trade agreement, which would likely reduce costs and regulatory barriers for exporters like Tesla. Furthermore, the Federal Reserve’s current policy stance remains neutral, with expectations of no further rate hikes in the near term, which helps high-growth stocks like Tesla that are sensitive to discount rate assumptions.

However, investors must also consider potential headwinds. The Trump administration is reportedly reviewing tariff structures, and President Donald Trump has floated the possibility of significant tariffs on Chinese imports, including electric vehicles, should he return to office. These developments could complicate Tesla's cost structure and competitive pricing, especially in the United States. Tesla’s global supply chain, particularly for batteries and components sourced from Asia, remains exposed to such policy shifts.

In addition to macro and geopolitical factors, Tesla's internal fundamentals remain under the microscope. While excitement over the robotaxi initiative is high, analysts are awaiting more tangible delivery timelines and revenue projections before significantly upgrading long-term forecasts. Tesla’s Q1 delivery numbers showed slight sequential weakness, and margins have narrowed due to aggressive price cuts to defend market share against Chinese competitors like BYD and NIO.

Short-term consolidation before directional breakout

Looking ahead, Tesla stock appears poised for further volatility in the short term. If the stock successfully breaks and holds above the $290 to $300 resistance corridor, the next logical target becomes $320, a level last seen in late 2023. A continuation of bullish sentiment driven by macro news, strong forward guidance, or new product unveilings could catalyze this move. 

On the contrary, failure to breach this zone, especially in combination with unfavorable economic data or trade news, could trigger a retracement back toward the mid-$240s range.

Tesla faces persistent macroeconomic headwinds, including fragile global growth and ongoing trade uncertainty. While the recent 90-day tariff suspension offered temporary relief, long-term risks remain in crucial markets like China and Europe.

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