Tesla (Nasdaq: TSLA) stock It could rise to $520 in late August, according to a technical analysis based on the company’s long-term chart structure.
This forecast comes as Tesla continues to trade above a key support trend line in several years rising Despite recent volatility caused by SpaceX IPO speculation, competition in robotics, and broader market sentiment.
At the close of trading on June 1, Tesla stock finished at $415.88, leaving a roughly 25% upside to the expected target of $520.
Published forecasts TradingShot In a TradingView mail On June 1, it depends on Tesla’s position within the giant rising wedge pattern that has been developing since November 2021.
According to chart analysis, Tesla stock recently rebounded from an important inside trend line from the lows that has served as support since April 22, 2024. The stock’s ability to hold this level suggests that the broader uptrend remains intact.
The technical setup suggests that as long as Tesla maintains support above this trend line, the next major target is a retest of the upper boundary of the wedge near $520. Based on the pace of the current trend, this level could be reached by late August 2026.
Adding to the bullish case, Tesla’s weekly Relative Strength Index (RSI) also rebounded from a long-term support area. A rebound in the RSI indicates the return of buying momentum after a period of consolidation, increasing the likelihood of another move higher.
Meanwhile, a decisive breakout below the higher and lower inside trend line would weaken the bullish structure and could lead to a deeper correction. In this scenario, Tesla stock could fall toward 200 a week Moving average Close to $300.
Such a move would represent a significant pullback from current levels and could delay any attempt to challenge the $520 target this year.
Tesla stock basics
Tesla’s long-term growth story is increasingly centered around artificial intelligence, robotics, autonomous driving and energy storage rather than electric vehicles alone.
While SpaceX IPO speculation and increased competition in robotics have recently weighed on Tesla shares, the company continues to develop its Robotaxi network, full self-driving technology, and Optimus humanoid robot software.
Tesla also delivered stronger-than-expected results in the first quarter of 2026, driven by growth in energy storage deployments and FSD subscription revenue.
Despite its plans to spend more than $25 billion on capital expenditures this year, investors remain focused on the company’s long-term opportunities in the areas of autonomy, robotics and artificial intelligence.
