Tesla stock snapped out of its five-day losing streak after jumping 10 points in the charts on Wednesday’s trading. It spiked nearly 5% in value hitting a monthly high of $235. Despite the rebound, TSLA is still down close to 40% year-to-date as it fell from a yearly high of $428.

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Investors who took an entry position anytime before mid-March are all facing losses after investing in Elon Musk’s firm. Now that TSLA entered the greener spectrum, will it continue its positive momentum in the indices? In this article, we will highlight a technical analysis to determine if Tesla stock has bottomed out in price.

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TSLA: Has Tesla’s Stock Price Bottomed Out?

Stock market investment advisor Gary Black went into a detailed technical perspective about Tesla stock’s price analysis. According to the investment advisor, TSLA might have bottomed out last week when it fell to the $222 price range. He shared a price chart along with the year-on-year deliveries of the electric cars.

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“We continue to believe TSLA bottomed last week at $222 as it becomes clear to investors the TSLA brand taint is likely to be of limited duration and the decline in TSLA WS 1Q estimates (from 429K at year-end to 405K now) is more likely due to shortages of refreshed Model Y inventory than Elon’s political rhetoric and DOGE activities,” he wrote, indicating that Tesla stock could rise hereon.

We continue to believe $TSLA bottomed last week at $222 as it becomes clear to investors the TSLA brand taint is likely to be of limited duration and the decline in TSLA WS 1Q estimates (from 429K at year end to 405K now) is more likely due to shortages of refreshed Model Y… pic.twitter.com/PIC4dhwmgL

— Gary Black (@garyblack00) March 19, 2025

The word on the street was that investors were put off by Elon Musk’s involvement in governmental activities through D.O.G.E. His right-wing views might have led to the price decline but that isn’t the case. The recent act of vandalism on the cars has led to investors being proactive about the happenings of Tesla. The move will eventually help Tesla stock to rise and recover all the losses it delivered.