Tesla Stock (TSLA) Rebounds Before Q1 EV Delivery, Leading Nasdaq Gains
Tesla stock has rebounded this week and it’s now testing resistance, as it led lech stocks today, which pulled Nasdaq almost 1% higher.
Tesla Outperforms Tech Stocks
Tesla’s stock has shown remarkable resilience in recent weeks, outperforming the broader tech sector despite ongoing market uncertainty. While most tech stocks struggled last week, Tesla gained nearly 6%, signaling strong investor confidence.
This week, the rally has continued, with TSLA shares rising 7.5% after starting at $249 on Monday and closing above $269 today. Nasdaq also closed higher for the second day, gaining almost 1% today and 2.5% for the week.
Key Technical Levels and Resistance
Despite a 50% decline since mid-December, Tesla has consistently found solid support around the $220 level, a critical zone reinforced by key moving averages on the weekly chart. However, last week, buyers struggled to break through the 50-week SMA (yellow), a level that remains a crucial resistance point. Tesla is once again testing this barrier today, in anticipation of an important data release.
Q1 Delivery Data in Focus
Tomorrow, Tesla will report its first-quarter EV delivery numbers, a highly anticipated event that could drive further price action. Analysts project deliveries of 393,000 units, marking a decline from the previous quarter’s 495,570 units but still reflecting a small year-over-year increase of less than 2%.
This report is under intense scrutiny, particularly after recent data revealed significant declines in Tesla’s EV sales in China and the EU. Investors will be watching closely to see how these numbers impact Tesla’s stock trajectory in the coming days.
Conclusion
Tesla’s strong performance in recent weeks suggests renewed investor optimism, but the stock remains at a crucial resistance level. With Q1 delivery data set to be released tomorrow, Tesla’s near-term outlook could hinge on whether the company meets or misses expectations. A stronger-than-expected report could fuel further gains, while a disappointment might trigger renewed selling pressure.
Nasdaq Live Chart
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