Analyst sets date when Tesla stock will hit $600 after Trump v. Musk feud

Despite a recent market dip following a public dispute between Elon Musk and Donald Trump over EV subsidies, an analyst at TradingShot has reiterated a bullish $600 price target for Tesla, citing a long-term channel-up pattern and a triple bottom at a key Fibonacci retracement level. The analyst views the recent downturn as a short-term pullback and early stage of a bull flag, with the weekly RSI showing accumulation patterns similar to those preceding previous rallies. Meanwhile, focus is shifting to Tesla's upcoming robotaxi unveiling on June 12, which is seen as crucial for the company's autonomous driving ambitions, while Morgan Stanley maintains a long-term target of $1,000 contingent on expansion into new markets.

Analysis

Tesla's (NASDAQ: TSLA) stock experienced significant volatility, shedding $150 billion in market capitalization on June 5 following a public dispute between CEO Elon Musk and President Donald Trump concerning potential elimination of EV subsidies, before rebounding over 3% to $295 by the June 6 close. Despite this, trading analyst TradingShot reiterated a bullish $600 price target, interpreting the dip as a short-term pullback within a persistent long-term channel-up pattern originating in January 2023. Key technical supports for this outlook include a triple bottom formation at the 0.236 Fibonacci retracement level from a major low on April 7, 2025, and the current downturn being viewed as an early-stage bull flag. Furthermore, the weekly Relative Strength Index (RSI) indicates accumulation patterns similar to those preceding Tesla's last two major rallies, suggesting a potential breakout towards the $600 target, aligned with the channel's upper boundary and 1.0 Fibonacci extension, possibly by early November 2025. Concurrently, market attention is shifting towards Tesla's June 12 robotaxi unveiling, an event Gary Black of The Future Fund considers pivotal for the company's unsupervised autonomous driving approval efforts. Wall Street sentiment remains broadly positive, with Morgan Stanley maintaining a long-term $1,000 price target, contingent on Tesla's successful expansion into new sectors such as drones and urban air mobility.

Key Decisions for Investors

• Investors might consider the recent price weakness as a potential accumulation opportunity, given the technical analysis suggesting a $600 target and historical price action within an established upward channel.
• The upcoming robotaxi unveiling on June 12 should be closely watched as a key near-term catalyst, with its perceived success likely to significantly impact sentiment and Tesla's autonomous driving narrative.
• Monitor developments related to EV subsidies and the political climate, as these factors have demonstrated a capacity to trigger sharp market reactions, despite some analysts expecting the immediate dispute to subside.
• For those evaluating very long-term targets like Morgan Stanley's $1,000, assess the viability and progress of Tesla's expansion into speculative new markets such as drones and urban air mobility, which are prerequisites for such valuations.