Smart Trade Insights
  • Business
  • Economy
  • Investing
  • Politics
Top Posts
BHP Faces AU$1.3 Billion Wage Adjustment for Queensland...
​Royal Gold to Create Streaming and Royalty Giant...
Chris Berry: The West Must Invest in Refinement...
Torex Gold Moves Beyond Single-Asset Status With Reyna...
Ekin Ober on Why AI Could Be Mining’s...
Maritime Resources: A Low-risk Path to Gold Production...
Stallion Uranium Provides Update on Technology Data Acquisition...
Trump Tariffs to Raise US Medical Device Costs,...
EVs Now Emit 73 percent Less Than Gasoline...
OpenAI to release web browser in challenge to...
  • Business
  • Economy
  • Investing
  • Politics

Smart Trade Insights

Economy

Tesla stock up nearly 7% in U.S. premarket trading

by admin November 20, 2024
November 20, 2024
Tesla stock up nearly 7% in U.S. premarket trading

Tesla shares surged nearly 7% in premarket trading Monday following a Bloomberg report indicating that the incoming Trump administration plans to prioritize federal regulations for self-driving vehicles. This potential policy shift would mark a significant step in creating a national framework for autonomous driving technologies, benefiting companies like Tesla that are at the forefront of innovation in this space.

Musk has been a vocal supporter of Trump’s return to the presidency and recently accepted a key role in the administration. He was appointed, alongside Vivek Ramaswamy, to lead the Department of Government Efficiency (DOGE), a newly created entity tasked with streamlining bureaucracy and reducing regulatory hurdles.

The timing of this development aligns with Tesla’s unveiling of new autonomous vehicle concepts, including the Cybercab and Robovan. Musk also announced plans to deploy unsupervised Full Self-Driving (FSD) technology in select Tesla models in California and Texas next year, signaling the company’s rapid advancements in this field.

If a cohesive federal framework emerges, it could accelerate adoption of self-driving technology, further solidifying Tesla’s leadership position. Investors appear optimistic about Tesla’s potential to capitalize on these favorable regulatory winds, driving the stock’s strong premarket performance.

Tesla Stock Chart Analysis

The Tesla Inc. (NASDAQ: TSLA) chart displays a clear upward momentum starting on November 6, with the stock climbing sharply from the $260-$280 range to a peak of $358.63 on November 9. This rally coincided with news that Tesla might benefit from federal regulations prioritizing self-driving vehicle technology, as discussed earlier.

After reaching its high, Tesla’s stock experienced a pullback, indicating profit-taking by investors. The stock found support around $320 and has been consolidating near the $340 level in recent sessions, suggesting that traders are awaiting further catalysts for direction.

The Relative Strength Index (RSI) shows a recent dip from the overbought zone (above 70), now sitting at a neutral level near 54. This signals a balanced market, with neither strong bullish nor bearish momentum dominating.

In the near term, the $320-$322 level appears to be a key support area, while $358 represents resistance. A breakout above $358 could lead to further bullish momentum, potentially targeting $375 or higher. Conversely, a drop below $320 could lead to a test of the $300 psychological support.

Overall, Tesla’s current consolidation phase reflects a period of indecision. Investors may look to developments in regulatory policies or Tesla’s product updates to determine the next significant move.

The post Tesla stock up nearly 7% in U.S. premarket trading appeared first on FinanceBrokerage.

previous post
Super Micro stock surges
next post
Top 5 Life Science ETFs in 2024

You may also like

Solana and Cardano: Solana breaks yesterday’s support

August 2, 2024

Retail Investors Boost Nvidia Stock Amid AI Shakeup

January 29, 2025

Dogecoin and Shiba Inu are falling to new...

October 2, 2024

Stock Futures Lower after S&P 500 futures ticked...

December 10, 2024

McDonald’s Stock Drops 5% After An E. Coli...

October 25, 2024

Oil & Gas Trends: Resistance Rejections & Trade...

November 1, 2024

Warren Buffett: Strategic Moves Amid Market Shifts

August 21, 2024

Oil and natural gas: Oil is back on...

August 1, 2024

S&P 500 and Nasdaq under heavy bearish pressure...

September 8, 2024

NextNav Stock Price, Forecast, and Latest News

September 21, 2024

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • BHP Faces AU$1.3 Billion Wage Adjustment for Queensland Coal Miners

      July 11, 2025
    • ​Royal Gold to Create Streaming and Royalty Giant in US$3.7 Billion Deal

      July 11, 2025
    • Chris Berry: The West Must Invest in Refinement Now or Fall Further Behind

      July 11, 2025
    • Torex Gold Moves Beyond Single-Asset Status With Reyna Silver Takeover

      July 11, 2025
    • Ekin Ober on Why AI Could Be Mining’s Most Valuable Tool Yet

      July 11, 2025
    Promotion Image

    banner ads

    Categories

    • Business (764)
    • Economy (829)
    • Investing (2,387)
    • Politics (737)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: smarttradeinsights.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 smarttradeinsights.com | All Rights Reserved