Tesla stock price traded downwards before recovering to trade at $252, with 0.1% in daily gains in the third hour of trading. The stock has dropped substantially from the peak $488 recorded in December 2024, equivalent to a 43% decline based on the current price. In addition, it is at -35% year-to-date.
The company’s 336,681 vehicles sold in the Q1 2025 was equivalent to a 13% YoY decline. Its weak sales figures could get worse as trade tariff tensions pile down pressure on auto manufactures. It will announce its Q1 earnings on April 22 and analysts project another set of disappointing results.
Goldman Sachs recently lowered its Tesla stock price target to $260, down from $275, attributing the readjustment to a likely softening of consumer demand triggered by the impact of the trade tariff war. For instance Tesla halted orders on its Model S and X vehicles, both of which are manufactured in the US and would have attracted a 84% counter-tariffs imposed by China.
Tesla (NASDAQ: TSLA) is counting on the rollout of its unsupervised full self driving as a service robotaxis in Austin, Texas in June to inject fresh impetus. However, the revenue side of that business could take longer to have a substantial impact on its balance sheet.
Tesla Stock Price Prediction
The momentum on Tesla stock price favours it to stay on the downside if resistance persists at the $259 pivot mark. The downward momentum will likely find its initial support at $248. Breaking below that level will signal an extended bearishness that could take the action lower to test $239.
Alternatively, TSLA price action could shift to the upside if it breaks above $259. That will likely see the first resistance come at $270. Breaking above that level will invalidate the downside narrative. Also, such momentum could extend gains to test the second resistance at $280.
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