Tesla stock consolidates at $339 as robotaxi hype revives bullish momentum

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Tesla stock consolidates

Highlights

- Tesla is trading above major moving averages, with strong technical momentum and support at $320.

- Investor sentiment is rising on news of a Texas robotaxi license and an upcoming FSD upgrade.

- A breakout above $348 could trigger a move toward $368, while failure to hold $320 may lead to downside risk.

Currently, Tesla’s key moving averages are aligned in a bullish formation. The 20-day SMA sits near $312, the 50-day around $298, and the 200-day is still lagging slightly below at $286. The stock’s ability to stay decisively above $320–$322 suggests a firm support base, while resistance appears to cluster around the $345–$348 level, where previous rallies have faced short-term exhaustion.

Momentum oscillators paint a mostly bullish picture. The Relative Strength Index (RSI) is hovering around 61, indicating neither overbought nor oversold conditions, leaving room for further upward movement. The Moving Average Convergence Divergence (MACD) remains in positive territory but has flattened slightly, which implies a potential pause or sideways action before the next leg higher. The Average Directional Index (ADX) near 12 indicates trend strength is still developing but not yet mature.

Tesla stock price dynamics (May 2025 - August 2025). Source: TradingView

Investors should watch for a decisive move above $348 with strong volume, which could signal a breakout toward the $368 resistance zone. On the downside, failure to hold above $320 could lead to a retest of the psychological $300 level and possibly the 200-day SMA near $286.

FSD rollout and robotaxi license fuel bullish sentiment

Tesla’s recent rally has been driven less by core EV sales and more by renewed investor enthusiasm around its AI initiatives—most notably, Full Self-Driving (FSD) and robotaxis. The August 2 announcement that Tesla has secured a license in Texas to operate a robotaxi service acted as a major sentiment driver, suggesting regulatory hurdles are being cleared for autonomous vehicle deployment in the U.S.

Elon Musk’s latest statements on FSD also fueled optimism. He confirmed that the internal version of FSD being tested in Austin—intended for Tesla’s robotaxi fleet—is already outperforming the commercial version. A public release of the upgraded FSD is expected before the end of Q3, which investors are interpreting as a potential inflection point for Tesla’s valuation.

Tesla has also decided to scrap its in-house Dojo supercomputer project, choosing instead to partner with Samsung for AI chip production, inking a deal reportedly worth $16 billion. This pivot is seen as a strategic shift to improve efficiency and focus resources on scaling autonomous driving software rather than internal hardware R&D.

$368 breakout in play, but $320 must hold

Looking ahead, Tesla’s near-term price action will depend on how the market digests both technical levels and upcoming FSD-related news. Investor focus will also remain on regulatory developments and potential announcements around the robotaxi launch timeline.

In a bullish scenario, a close above $348 with rising volume could clear the way toward $368, a key Fibonacci extension and a psychological round number. If Tesla can deliver on its FSD update and expand its robotaxi pilot programs, investor enthusiasm could push the stock toward the $390–$400 zone in Q4.

Elon Musk’s clash with Apple over xAI and App Store policies has generated fresh media attention, reinforcing his image as a disruptive innovator. While not directly tied to Tesla’s core business, the controversy supports investor confidence in Musk’s leadership, indirectly benefiting Tesla’s market sentiment.

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