Tesla shares are currently trading at around $241.81 a share in the pre-market trade. The company’s Robotaxi event is set for Thursday 10^th of October, investors will be monitoring closely on what the company has to offer. This will most likely raise the volatility within the stock, as well as move the price for the near term. Although the question remains: which direction? From a technical aspect, we can see the stock has once again struggled to move above the resistance along the upper trendline of the triangle pattern outlined on the daily chart. Finding resistance around $264.76 before selling off to its current price level. We can see this resistance area between $260-$270 has now existed since December of 2023, and is yet to be broken. A break above would likely spark fresh optimism for Tesla investors, potentially leading to increased buying with traders/investors then targeting the highs of 2023. Or respectively, $280-$300. On the other hand, as the stock has failed to break above the resistance for the second time this year, some may re-evaluate and take a more cautious approach. This concern may lead to some selling pressure in Q4, perhaps forcing the price back towards the trendline support. Based on the current positioning of the stock’s share price, if a sell-off were to occur, support could be found around $220. Which sits along the ascending trendline. Only a break below would create greater concerns. Looking at the technical indicators, the MACD suggests that some downside pressure may persist as it has just turned bearish. Perhaps at least until the company’s event and earnings. However, the stochastic is hovering above oversold territory, and if we look at the past price action, most times it enters this territory a small bounce higher follows through. This may support the price in the near term from a momentum based perspective, especially on any positive reaction after the Robotaxi event.