Tesla shares are at the cusp of a critical chart point, according to Fundstrat technical strategist Mark Newton. A daily close above the $338 mark will potentially open the door toward $368, while $300 remains a critical medium-term support level.

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.