Watch These Tesla Price Levels After Stock Rallies to Highest Close Since February

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Timothy Smith

Sun, May 11, 2025, 9:25 PM 3 min read

Tesla shares have posted three consecutive weeks of gains and are trading at their highest levels in more than two months.
The stock confirmed a triple bottom pattern on Friday after breaking out above the formation's neckline and closing above the closely watched 200-day moving average, setting the stage for a bullish reversal.
Investors should watch crucial overhead areas on Tesla's chart around $360 and $430, while also monitoring key support levels near $289 and $225.

Tesla (TSLA) shares come into the week trading at their highest levels in more than two months, as the stock has gained ground in each of the last three weeks.

The stock started gaining traction late last month after CEO Elon Musk, during the company’s first quarter earnings call, said he would spend less time at the Department of Government Efficiency, or "DOGE," and more time at his job at the company.

More recently, Tesla shares received a boost after the Trump administration announced a trade agreement with the U.K. and suggested that more were on the way. Trade news will likely set the tone this week also after Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer flagged "substantial progress," in U.S.-China trade talks held over the weekend, adding that details would be discussed on Monday.

Tesla shares have recovered about 40% from last month’s low. However, the stock is still down 26% since the start of the year through Friday's close, due in part to concerns that Musk’s involvement with the Trump administration could be weighing on the automaker’s sales.

Below, we take a closer look at Tesla’s chart and use technical analysis to point out crucial price levels that investors will likely be watching.

Triple Bottom Confirmation

Tesla shares forged a triple bottom on the chart between early March and late April, setting the stage for a bullish reversal.

Indeed, the stock confirmed the pattern in Friday’s trading session, breaking out above the formation’s neckline and closing above the closely watched 200-day moving average (MA). Moreover, the relative strength index signals bullish price momentum and sits comfortably below overbought levels to provide ample room for further upside.

Let’s identify two crucial overhead areas on Tesla’s chart where the shares may encounter resistance and also locate key support levels to monitor during future retracements.