Investors may want to jump into Tesla (SYM:TSLA).
After bottoming out at around $202.60, the electric vehicle stock is starting to accelerate higher again. Last trading at $219.41, we’d like to see it initially refill its bearish gap at around $250.
Giving it a boost, the company said it would start selling its highest-level driver assistance software, Full Self Driving in Europe and China in the first quarter of 2025.
“More drivers able to purchase FSD, which costs $99 a month in the U.S., means more potential high-margin sales for Tesla. It’s also a sign that Tesla believes FSD is improving. FSD is the software and hardware platform that Tesla believes will turn its vehicles into truly self-driving cars one day,” added Barron’s.
The company is also nearing its Robotaxi Day on October 10, where it’ll review some of its top self-driving technology, which should help boost TSLA shares even more.
Helping, Wolfe Research just initiated a Peer Perform rating on TSLA.
The firm added that “The fundamental setup for Tesla over the next few months is constructive, with second-half deliveries tracking up 12% vs. the first half driven by strong demand in China and rest of the world,” as noted by TheFly.com.
Again, we’re initially looking for TSLA to refill its bearish gap at around $250 a share.