The next big thing to send Tesla stock to $250

After recently delaying the Robotaxi event from August 8 to October 10, Tesla (NASDAQ: TSLA) is edging closer to the next date, which could trigger its stock price.

Looking at the historical price chart for TSLA shares, it is evident that the stock has experienced multi-year periods marked by small price oscillations, followed by an event that acted as a catalyst and elevated its price to the next level. A highlighted chart by TrendSpider helps demonstrate this phenomenon.

The stage and technical setup seem to pave the way for the Robotaxi event on October 10 to be the next big catalyst.

Technical analysis of TSLA stock

Although TSLA stock last captured the $250 level just a month ago, it has been struggling to reclaim its foothold since then, often trading near the peak of its monthly range; the resistance zone of $227.03 has proved elusive for its price for nearly 20 days, with the level of $198.92 acting as support.

However, this level could be tested with rising buying volume, measured by the Relative Strength Index (RSI), which has recently experienced an upward trend and closed the latest trading session at 59.36.

Furthermore, Tesla’s stock price is trading above its 50, 100, and 200-day moving averages (MAs), which is another technical indicator in its favor.

Further analysis of technical indicators shows a bullish sentiment, which points toward a buy rating overall. 

Oscillators have an overall “buy” rating, with nine “neutral” and two “buy” grades, while moving averages point towards a “strong buy” with one “neutral” and 13 “buy” ratings.

Other events that could potentially influence TSLA’s stock price

Notably, the most recent announcement regarding this electric vehicle (EV) maker came from Ashok Elluswamy on August 21, a senior engineer at the Autopilot department, who said that Full-Self Driving (FSD) is coming to Cybertruck in September after multiple dates revealed by CEO Elon Musk were missed.

Another positive development for the Texas-based company is the announcement from the European Union earlier this week, in which it was revealed that China-built Tesla EVs will have only 9% tariffs for sales in the EU, down from the previous 20%.

It remains to be seen whether these events will act as a positive interlude for the Robotaxi event and whether it will act as the catalyst that elevates TSLA stock price to the next level.

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