The market for Tesla has been a bit noisy during the trading session on Friday, but that's not a huge surprise because we've had a couple of really big days before then.
Tesla (TSLA)
The market for Tesla has been a bit noisy during the trading session on Friday, but that's not a huge surprise because we've had a couple of really big days before then. And we are around the 50-day EMA.
Further compounding some of the issues is the fact that on Wednesday, we get the earnings report. And I think a lot of people might be a little bit cautious about the market right now. The Nasdaq 100 itself is pretty strong during the day following the recent sell America volatility. But the biggest driver, I think, in the immediate term is the robotaxi rollout in Austin, Texas.
Autonomous Milestones and Sentiment
They have had some rides now without safety monitors, which is a major milestone for the FSD bullish case. Additionally, sentiment is being supported by confirmation that Elon Musk himself purchased $1 billion in stock last year and has not sold in three years, countering fears of insider liquidation during this political volatility that we've seen.
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I do think that the $460 level is going to be a little bit difficult to get above between now and earnings, although I feel much more comfortable thinking that we're going to get above there than below $420, external factors, of course, excluded.
And with the earnings report on Wednesday, there will be a lot of focus on AI and autonomous things, robotaxis, robots, those types of things. The estimates are for 43 cents a share, revenue of just under $25 billion. But I do think ultimately Tesla finds a reason to go higher and go search for that $500 level.
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