Wall Street sets Tesla (TSLA) stock price for next 12 months
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On Thursday, September 5, Tesla (NASDAQ: TSLA) announced the expansion of its Full-Self Driving (FSD) feature to customers in Europe and China in the first quarter of 2025, pending regulatory approval. Due to popular demand, Tesla AI team release roadmap: September 2024– v12.5.2 with ~3x improved miles between necessary interventions– v12.5.2 on AI3 computer (unified models for AI3 and AI4)– Actually Smart Summon– Cybertruck Autopark 📐– Eye-tracking with sunglasses 🕶️ -… — Tesla AI (@Tesla_AI) September 5, 2024 The news positively boosted TSLA shares, as they added 2.9% in the trading session, as the electric vehicle (EV) stock closed at a valuation of $230.17, with gains of 1.85% in the pre-market on September 6. Furthermore, the previous five trading days have also been positive for TSLA stock, which recorded a 9.64% advance on the price chart, increasing its price to above $230 valuation. TSLA stock 5-day price chart. Source: Finbold Technical analysis of TSLA stock Analysis of technical indicators for TSLA stock further confirms the bullish sentiment as its shares trade above the nearest one-month resistance zone at $228.38, while pre-market gains are pushing its price to cents away from the three-month resistance set at $234.72. Conversely, the support level is $210.38, which acts as a recovery point in case of a potential price reversal.Looking at the simple moving average (SMA) for the 50, 100, and 200-day periods, the current price movement is well above all three parameters, advancing a positive trend. Technical analysis of TSLA stock. Source: TradingView The relative strength index (RSI), with a reading of 60.91, supplements the price increase, indicating that TSLA shares are currently between a neutral and overbought level. RSI indicator for TSLA stock. Source: TradingView Analysis of the remaining technical indicators suggests a ‘strong buy’ rating at the time of writing. Wall Street…
Filed under: News - @ September 6, 2024 3:19 pm