Trading Expert Sets Tesla Stock's $520 Target for Late August

Per a technical analysis of its long-term chart structure, Tesla (NASDAQ: TSLA) stock could rally to $520 by late August. The forecast arrives as TSLA continues to trade above a key support trendline inside a multi-year bullish pattern, despite recent volatility fueled by SpaceX IPO speculation, robotics competition, and broader market jitters. At the close on June 1, Tesla finished at $415.88 — roughly 25% upside to the projected $520 target. The forecast, posted by TradingShot on TradingView on June 1, leans on Tesla's position within a giant Rising Wedge that has been quietly building since November 2021.

Tesla stock price analysis chart. Source: TradingView. Per the chart, Tesla recently bounced from an important inner higher-lows trendline that has acted as support since April 22, 2024. Holding that level keeps the broader uptrend intact, with the next major objective being a retest of the wedge's upper boundary near $520. At the current trend's pace, that level could be reached by late August 2026.

Adding to the bullish case, Tesla's weekly Relative Strength Index (RSI) has rebounded from a long-term support zone, hinting that buying momentum is returning after a consolidation phase. That said, a decisive break below the inner higher-lows trendline would weaken the structure and could open the door to a deeper correction — potentially toward the 200-week moving average near $300. Such a move would mark a notable pullback from current levels and could delay any $520 attempt this year.

Fundamentals-wise, Tesla's long-term story is increasingly anchored in AI, robotics, autonomous driving, and energy storage rather than EVs alone. SpaceX IPO speculation and rising robotics competition have recently weighed on the stock, but the company keeps pushing its Robotaxi network, Full Self-Driving technology, and Optimus humanoid robot program. Tesla also posted stronger-than-expected first-quarter 2026 results, lifted by energy storage deployments and FSD subscription revenue. Even with plans to spend more than $25 billion on capital expenditures this year, investors appear focused on the long game in autonomy, robotics, and artificial intelligence.