Tesla stock trades at $326 as robotaxi launch looms
Tesla is battling declining EV sales in key international markets
As of June 11, Tesla stock is trading at $326.09, up 5.7% over the past 24 hours.
This surge was driven by growing optimism around the company’s autonomous driving technology and the much-anticipated robotaxi rollout.
Highlights
- Tesla stock is trading at $326.40, recovering slightly after a sharp drop driven by political tensions and weak international demand.
- The upcoming robotaxi launch in Austin could act as a short-term catalyst, but technical indicators remain bearish.
- Key support lies at $315 and $265, while resistance sits near $345 and $365.
The most recent correction saw Tesla fall as much as 14% to near $285 before bouncing back, a move that broke a rising wedge pattern—typically a bearish signal. This pattern suggests a possible resumption of the broader downtrend that began late last year, further confirmed by diminishing volume on upswings and intensifying volume on declines.
From a technical level perspective, Tesla is currently wedged between key short-term resistance near $330 and immediate support at $315. If the $315 level fails to hold, the next support can be found around $265, which coincides with a February consolidation zone. Deeper support lies at $215, the November 2023 pivot low, and ultimately $170, a critical level dating back to mid-2022.
TSLA stock price dynamics (April 2025 - June 2025). Source: TradingView
On the upside, resistance levels to watch include $345, where the 50-day moving average now resides, and $365, which marked the recent local top. A decisive break above these levels would be required to reestablish a bullish structure, yet prevailing technical indicators—such as the Relative Strength Index (RSI) hovering near 48 and a bearish MACD crossover—suggest limited near-term momentum.
Market context: political drama and strategic pivots
The broader context for Tesla’s volatility centers around the political friction between CEO Elon Musk and President Donald Trump. Musk’s criticism of U.S. industrial policy, particularly the Inflation Reduction Act and EV subsidies, has triggered a public spat with Trump, who has hinted at a reduction or removal of EV tax credits if reelected. This has raised market fears about Tesla’s reliance on favorable policy incentives, potentially undermining future profitability.
At the same time, Tesla is battling declining EV sales in key international markets. Chinese competitors such as BYD and NIO have continued to erode Tesla’s market share in the world’s largest EV market. In response, Tesla recently reintroduced a referral rewards program in an effort to boost demand, signaling that the company may be facing deeper structural demand challenges.
Investors are also closely watching the scheduled June 12 unveiling of Tesla’s long-anticipated robotaxi service in Austin, Texas. Musk has previously described this as a transformative step for Tesla, potentially disrupting the ride-hailing industry. Yet until there is clarity on regulatory approval, vehicle availability, and economic viability, the robotaxi narrative remains speculative.
Volatility likely to persist
Given the convergence of bearish technical indicators and a challenging macro-political backdrop, Tesla’s share price is likely to remain volatile over the coming weeks. If Tesla fails to maintain support at $315 and breaks below the psychologically significant $300 mark, the next move could take the stock to $265, with further downside risk to $215 in a pessimistic scenario. On the other hand, a successful robotaxi launch and a cooling of political tensions could serve as short-term catalysts, potentially pushing the price back toward the $345–$365 resistance band.
However, until the stock recovers and sustains levels above its 50-day moving average with improving volume, rallies should be viewed with skepticism. The broader setup remains one of elevated risk, and traders should be prepared for both sharp pullbacks and relief rallies. Near-term outlook is neutral-to-bearish, with increased event-driven risk sensitivity.
Despite excitement around Tesla’s robotaxi narrative, core vehicle sales are weakening across major markets. In China, Europe, and the U.S., sales are declining due to rising competition, softening EV demand, and reputational risks linked to Elon Musk’s political controversies.
