Tesla Inc. is gearing up for a significant reveal on 8 August this year, as it plans to introduce its much-anticipated robotaxi. This move comes at a time when the company is navigating sluggish sales and increasing competition from more affordable Chinese electric vehicles. Elon Musk, the CEO of Tesla, announced on his social media platform, X, the upcoming unveiling of the robotaxi.
Tesla has long been ambitious about its vision of a fully autonomous vehicle, first presented to investors in 2019. Recently, Tesla has rolled out the latest iteration of its driver assistance software, marketed as Full Self-Driving (FSD), to its consumer base.
Given this backdrop, let's delve into Tesla Inc.'s stock (TSLA) to scout for potential trading opportunities:
Analysing the Daily (D1) chart, a support level is identified at 160.51 USD, with resistance at 182.87 USD. A breakout above this resistance level could signify the start of an uptrend.
On the Hourly (H1) chart, initiating long positions becomes attractive upon breaching the 182.87 USD mark, targeting a short-term objective of 205.06 USD. For those looking at a medium-term investment, maintaining a long position until reaching 233.87 USD could be viable.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Tesla has long been ambitious about its vision of a fully autonomous vehicle, first presented to investors in 2019. Recently, Tesla has rolled out the latest iteration of its driver assistance software, marketed as Full Self-Driving (FSD), to its consumer base.
Given this backdrop, let's delve into Tesla Inc.'s stock (TSLA) to scout for potential trading opportunities:
Analysing the Daily (D1) chart, a support level is identified at 160.51 USD, with resistance at 182.87 USD. A breakout above this resistance level could signify the start of an uptrend.
On the Hourly (H1) chart, initiating long positions becomes attractive upon breaching the 182.87 USD mark, targeting a short-term objective of 205.06 USD. For those looking at a medium-term investment, maintaining a long position until reaching 233.87 USD could be viable.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
