The opportunity ahead of it is likely a big reason why Tesla's stock price has climbed 12% since August 1. This move was large enough for Tesla shares to recapture their 200-day moving average and attract the attention of Fundstrat's Head of Technical Strategy, Mark Newton.

Nonetheless, it might not be entirely bleak for Tesla, as a series of new catalysts could be rejuvenating the stock’s long-term bullish outlook.

Tesla stock rose early Monday, adding to recent gains. Shares are looking to recapture some recently lost momentum leading into the company’s June launch of a robo-taxi service in Austin, Texas. Another strong day or two brings a stock price of $368 back into focus for technically minded traders.