Tesla (TSLA) Technical Analysis Ahead Of The RoboTaxi Event
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Tesla (TSLA) Technical Analysis Ahead Of The RoboTaxi Event

Published At: Oct 05, 2024 by Verified Invesing
Tesla (TSLA) Technical Analysis Ahead Of The RoboTaxi Event

Shares of Tesla (TSLA) fell slightly in the latest week after tagging resistance at $263. This resistance level connects the major pivot highs from July 2023 and July 2024 and can be seen in the chart above.

Tesla is nearing its big investor day where they will reveal more information on the RoboTaxi. Elon Musk has been teasing the RoboTaxi for months and its likely some of the recent upside from the the August lows is due to excitement over this new venture from the company. The event is scheduled for Thursday, October 10th.

Should the stock see a sell-the-news event, downside support is $220. If the stock market were to turn down dramatically in the coming months and the $220 level breaks, the next major support is $155.

If the RoboTaxi is near launch and investors rejoice over the details, the $263 level could be broken. Should that happen, upside resistance is at $300.

As of now, Tesla remains between the $263 resistance and the $220 support.

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