Tesla stock is climbing after Elon Musk said the company’s humanoid robot, Optimus, could eventually become its most valuable product, surpassing the EV business. He projected mass production at $20,000–$25,000 per unit, underscoring a significant shift toward robotics and AI. This vision is reinforced by Tesla’s updated master plan and a new compensation package that ties Musk’s rewards to ambitious milestones in autonomy, AI, and robot deployment—signaling a bold pivot toward positioning Tesla as a broader tech and robotics powerhouse, not just an automaker.
Technically speaking, recent strength within the SIA S&P 100 report shows TSLA moving back into the favored zone, suggesting investors are increasingly buying into Musk's vision. Shares currently sit at the 24th position in the relative strength rankings, having gained 12.99% over the past quarter and 8.87% in the past month, compared to the S&P 100 Index’s gains of 10.84% and 3.34% over the same periods. Notably, despite this short-term momentum, Tesla stock remains down -8.67% year-to-date, while the S&P 100 Index is up 13.08%, further highlighting the freshness of this recent move.
On the chart, Tesla’s weekly candlestick reveals a key technical development: a down-sloping resistance trendline (see red line) is being challenged, while a new uptrend (green line) appears to be forming. The most notable action this week is a potential breakout in progress, albeit on lower trading volume (see thin black line), which warrants watching. Finally, the SIA SMAX score, which measures short-term relative strength across a basket of asset classes, currently gives TSLA a 9 out of 10, reinforcing its return to the top tier of the SIA relative strength leaderboard.
The attached SIA Point and Figure chart highlights a significant yet often overlooked technical formation, particularly by advisors who rely primarily on line charts. Point and Figure methodology brings greater clarity to patterns like the triangle that formed in TSLA from May to late August 2025, illustrated here with two black lines. This formation reflects a phase of price discovery, where the market moves through a series of narrowing swings, forming converging columns of Xs and Os. It represents a temporary balance between supply and demand, with buyers and sellers probing for value until a breakout occurs, signaling a new consensus on price and often leading to a strong directional move.
In TSLA's case, the breakout began with a move above the upper black line at $327.12, followed by double tops at $333.66 and $347.14. For SIA rules-based practitioners, true confirmation came as TSLA re-entered the green "favored zone" of the SIA S&P 100 Index Report, as shown by the color shift from yellow to green in the matrix overlay. Most recently, TSLA formed another Point and Figure spread double top at $368.39, with the next resistance levels noted at $423.16 and $486.08, which aligns with the top red line. Initial support is now seen at the 3-box reversal level of $340.34 and the 2024 support level of $308.25, just above the key psychological threshold of $300.
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