Recently,$Tesla (TSLA.US)$ The stock price is unstoppable, having set a historic high for the fifth consecutive day, closing up 3.64% yesterday at $479.86. Since the USA elected Donald Trump for a second term, Tesla has received constant Bullish news, and the stock price has risen by over 90% in total.

Of course, investors know that the upward momentum will eventually slow down. But according to technical Analysts, now is not the time to bet on a slowdown in the stock price.

"I thought hitting $400 would trigger some profit-taking," said Frank Cappelleri, founder of CappThesis and a market technical analyst. "It doesn't seem that way."

Cappelleri believes that after the stock price broke through the key level of $270, Tesla is expected to reach $400, with this breakthrough happening after the presidential election on November 5. This determination is quite accurate, and while he is somewhat surprised that Tesla's stock price has not slowed down, he still sees reasons for further increases.

"Roughly calculating," he added, the stock price rose by about 1850% from a low in July 2010 to September 2014, and from a low in June 2019 to November 2021, it rose by about 3500%. As of this week, Tesla's stock price has risen approximately 350% from its low in 2023. "This suggests that since 2010, this could still be the early stages of the third huge rise for the stock."

Cappelleri is not the only one pointing out that Tesla is expected to rise significantly. With the historical high point of about $414 already surpassed, Katie Stockton, founder of Fairlead Strategies and a technical analyst, predicts the stock price will climb above $500.

Both analysts have not valued Tesla from a fundamental perspective. Technical analysts predict short- and medium-term stock price performance by studying charts, trading patterns, and historical trends. From this perspective, Tesla's current performance remains strong.

However, there are reasons for the increase in stock price. For Tesla, investors believe that autonomous driving technology is transformative. Tesla plans to launch an autonomous taxi service by the end of 2025. Additionally, a new lower-priced model will be launched this year. These two factors could drive faster growth, potentially allowing 2025 to replicate the successes of 2021—after the stock price soared 743% in 2020, it then increased by 50% in 2021.

As long as the market's belief in accelerated growth remains, it will continue to fuel the upward trend, said Douglas Busch, founder and technical Analyst of ChartSmarter. He also believes there is no reason for stock prices to slow down and predicts that by the end of 2025, Tesla's stock price may exceed $700.

That is several months away. In the short term, Tesla may receive further boosts from Wall Street. On Monday evening, Mizuho Securities Analyst Vijay Rakesh upgraded Tesla's stock rating from 'Hold' to 'Buy', raising the Target Price from $230 to $515, as he is Bullish on the prospects of the autonomous driving Business.

Rakesh values Tesla's core Autos and Energy storage Business at about $204 per share, estimates the autonomous driving technology at about $176 per share, and the humanoid robot technology at about $135 per share. If everything exceeds expectations, his optimistic Target Price reaches about $670 per share, with this potential upside mainly coming from autonomous driving and robot technology.

His Target Price is consistent with Wedbush Analyst Dan Ives. Ives raised the Target Price from $400 to $515 on Sunday, pushing Tesla's stock price up 6.1% on Monday to close at $463.02. Ives' optimistic target price is $650.

In the long term, technical trends need to align with fundamentals. However, currently, the stock price charts align with investor sentiment: Tesla's future earnings are expected to grow significantly. Of course, profit expectations will face risks, but the market is now more focused on the potential for huge returns.

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Editor/rice