There has been a lot of noise around Tesla Motors (TSLA - Get Report) .

There's founder Elon Musk's "master plan."  There was the unfortunate May death of a Florida driver linked to his using his Tesla car's Autopilot. There are government agencies looking into whether the company withheld information on that death in a recent offering.

There was even Musk's decision to buy alternative energy company SolarCity (SCTY) .

But if you are looking at Tesla from a strictly technical standpoint, ignore the noise and and look at the company's stock movement and its chart.

Yes, the shares, currently trading around $228, are up 12% in the past three weeks in anticipation of Musk releasing that master plan and the bid for Solar City.

But that rise pushed the shares back over the 100-day moving average, which has long been an important benchmark. It usually means sellers have returned to the stock.

In addition, the 100-day and, to a lesser extent, the 50-day average, have been key metrics for navigating the seesaw battle between buy and sell sentiments.

To the end, the chart, courtesy of TradingView, now suggest buying more TSLA stock can pay off.

The stock has now risen some 4.5% since June 13 although it is down 4.9% year to date compared with a 6.32% rise in the S&P 500 (SPX) .

The chart above shows the 20% bounce shares have made since its post-Brexit decline to around $190 on June 27 -- a move that sent the shares below all three moving averages. Even with the recent rise, the fact the stock has underperformed the S&P 500 index on a year-to-date basis is now an attractive quality for the stock, not a deterrent.

Why? With Musk offering more clarity about the SolarCity acquisition, this should eliminate concerns about the his judgment and what some believe are misguided ambitions. With boards of both Tesla and SolarCity endorsing the deal, Musk's new master plan, which he described as "accelerating the advent of sustainable energy," should increase the value of the combined company.

As the future value of Tesla is being considered, the stock -- after reclaiming its 100-day at $223.64 -- is now poised to break back above near-term resistance at $235.52, or about 3% higher. Once the $235.52 barrier is broken, TSLA stock should reclaim its April high of around $265 some time in the second half of the year, returning a premium of 16%.

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