Tesla stock gains 1.7% on Turkey surge and China sales rebound

Highlights

- Tesla is trading at $334.94 after a 1.7% gain, driven by strong August sales in Turkey and a 22.6% month-over-month rebound in China.

- The stock is testing key resistance around $355, with a potential breakout targeting $370–$375 in the short term.

- Investor sentiment is supported by anticipation of a new Full Self-Driving (FSD) update expected later this month.

From a technical perspective, Tesla’s chart presents a mixed outlook. The stock recently reclaimed its 200-day moving average, now serving as short-term support around $330. Meanwhile, the 50-day and 100-day moving averages are trending upward, supporting a medium-term bullish view. However, the 20-day EMA sits just above the current price, indicating short-term selling pressure. Overall, the chart suggests that Tesla is in a consolidation phase, with potential for a breakout if broader market momentum improves.

Momentum indicators present a neutral-to-cautious picture. The MACD at 5.94 suggests weakening momentum, while the RSI near 51 points to neither overbought nor oversold conditions. Pivot point analysis places support around $339.64, with a pivot level at $346.60 and resistance levels at $352.93 and $359.89. These figures align with broader technical resistance projected by analysts at TipRanks and ABG Analytics, who also identify critical resistance near $353 and secondary levels around $365–$370. If the stock fails to break above these levels, it could enter a sideways trend or experience short-term retracement.

Tesla stock price dynamics (June 2025 - September 2025). Source: TradingView

Volume is another key factor. Tesla’s intraday trading volume has risen significantly this week, with more than 88 million shares exchanged on September 3, suggesting growing investor participation. However, this rise in volume has yet to be accompanied by a definitive breakout above $355, which remains a critical resistance zone. Sustained high volume near resistance levels typically precedes strong directional moves, so the coming sessions could be pivotal for price action.

Sales surge in China and Turkey

Tesla’s latest bounce comes on the back of robust global delivery figures for August. The company delivered 83,192 vehicles in China, marking a 22.6% month-over-month increase, a much-needed rebound after several months of stagnation. At the same time, Tesla’s sales in Turkey climbed 86% to 8,730 units, largely driven by demand for the Model Y, making Tesla the second-best-selling brand in the country last month.

This comes amid a backdrop of mixed global performance. While the China and Turkey figures are encouraging, European sales remain under pressure. In July, Tesla’s European registrations were down 40% year-over-year, a decline that could weigh on Q3 results if not offset by strength in other regions. Meanwhile, the company’s entry into India has been underwhelming so far, with limited traction among local consumers.

Operationally, Tesla’s much-hyped robotaxi fleet continues to evolve. The company has reintroduced safety drivers into its autonomous vehicles, tempering short-term expectations around full autonomy. However, optimism persists around its upcoming Full Self-Driving (FSD) update, expected later this month. A successful rollout of the new software version could serve as a key driver for renewed investor interest and support further upside in the stock.

Key levels in focus as Tesla eyes breakout above $355

In the near term, Tesla is likely to continue testing resistance in the $352–$355 range. If this level is cleared decisively, the stock could rally toward $367.71, a level highlighted by multiple analysts as the next technical target. Should the FSD rollout prove successful and China sales maintain momentum, a further advance to $370–$375 is plausible.

In a more bullish scenario—bolstered by a confirmed breakout and strong investor sentiment—Tesla could begin to challenge longer-term resistance around $430, which represents a major retracement zone from its 2024 high. This level also coincides with a psychological threshold that could trigger renewed institutional buying.

Tesla’s July 2025 launch in India has underperformed, with only around 600 bookings versus a target of 2,500 units. High pricing—nearly three times the local EV average—has limited demand, forcing the company to lower its shipment forecast to 350–500 vehicles this year.

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