TSLA is trading at $409.05 (+2.59%) on strong China sales and technical strength as the stock hits key resistance levels amid a broad market rally.
- Tesla China sales surged 36% YoY in April to 79,478 vehicles, providing a significant catalyst despite a 7% month-over-month dip.
- The stock is outperforming the Nasdaq (+0.13%) as de-escalating US-Iran tensions lower oil prices and improve overall market sentiment.
- Current price action aligns with pre-market technical analysis, which predicted a test of the $409 resistance zone following the May 6 close of $398.73.