Trading expert sets date when Tesla stock will hit $520

Tesla (NASDAQ: TSLA) stock could rally to $520 in late August, according to a technical analysis based on the company’s long-term chart structure.

The forecast comes as Tesla continues to trade above a key support trendline within a multi-year bullish pattern, despite recent volatility driven by SpaceX IPO speculation, robotics competition, and broader market sentiment.

At the close of trading on June 1, Tesla stock finished at $415.88, leaving roughly 25% upside to the projected $520 target.

The forecast, published by TradingShot in a TradingView post on June 1, is based on Tesla’s position within a giant Rising Wedge pattern that has been developing since November 2021.

Tesla stock price analysis chart. Source: TradingView

According to the chart analysis, Tesla stock recently bounced from an important inner higher-lows trendline that has acted as support since April 22, 2024. The stock’s ability to hold this level suggests the broader uptrend remains intact.

The technical setup indicates that as long as Tesla maintains support above this trendline, the next major objective is a retest of the wedge’s upper boundary near $520. Based on the pace of the current trend, that level could be reached by late August 2026.

Adding to the bullish case, Tesla’s weekly Relative Strength Index (RSI) has also rebounded from a long-term support zone. The RSI recovery suggests buying momentum is returning after a period of consolidation, increasing the likelihood of another move higher.

At the same time, a decisive break below the inner higher-lows trendline would weaken the bullish structure and could trigger a deeper correction. In that scenario, Tesla stock may retreat toward its 200-week moving average near $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 fundamentals

Tesla’s long-term growth story is increasingly centered on AI, robotics, autonomous driving, and energy storage rather than electric vehicles alone.

While SpaceX IPO speculation and rising competition in robotics have recently weighed on Tesla stock, the company continues to advance its Robotaxi network, Full Self-Driving technology, and Optimus humanoid robot program.

Tesla also delivered stronger-than-expected first-quarter 2026 results, driven by growth in energy storage deployments and FSD subscription revenue.

Despite plans to spend more than $25 billion on capital expenditures this year, investors remain focused on the company’s long-term opportunities in autonomy, robotics, and artificial intelligence.