Shares of Tesla (TSLA) - Get Report are roughly flat Monday morning, down just 33 basis points to $241.30.

However, the all-electric California-based automaker is Real Money's Stock of the Day as investors turn to Tesla's delivery results, due up later this week.

The report is receiving extra attention after an email from CEO Elon Musk last week suggesting the company could hit 100,000 deliveries in the quarter. However, some reports now suggest Tesla will come up short. 

As many investors know, Monday marks the last day of September, and with it, the last day of the third quarter. Should Tesla come near its target for 100,000 deliveries, it should put 200,000 deliveries within the realm of possibility for the second half.

Management originally predicted it would deliver between 360,000 and 400,000 vehicles this year, but have so far delivered just over 158,000. In other words, Tesla will need a strong Q3 and Q4 push to hit its targeted range.

It will also need strong results to boost the price. Let's look at the charts. 

Trading Tesla Stock

Daily chart of Tesla stock.

Tesla stock was rejected by the ~$250 level throughout September, before taking a spill last week. Impressively, the stock has recovered almost all of those losses and again finds itself just below the $250 mark.

On the downside, the $210 to $220 area has done a relatively good job supporting TSLA stock. The one exception comes in May, when Tesla tumbled below the 78.6% retracement, slipped past $200 and bottomed at $177 before reversing higher.

Shares are up more than 36% from those lows and bulls are hoping more upside is on the way.

Currently north of the 20-day and 50-day moving averages, Tesla bulls are looking for a move over $150. Should they get it, they'll need to see if TSLA stock can reclaim the 61.8% retracement near $254 and hurdle the 200-day moving average at $260. Above that and the July high of $266.07 is in the cards, opening up for the potential of a more significant rally.

Should these levels act as resistance or should Tesla stock pull back on the results, look to see if the $210 to $220 area can buoy the name once more. If not, sub-$200 prices are back on the table, with $180 being the downside target should TSLA fall below $200.

This article is commentary by an independent contributor. At the time of publication, the author had no positions in the stocks mentioned.