TSLA - Tesla Stock: Bullish Breakout Looks Imminent (Technical Analysis)

2024-04-30 10:31:31 ET

Summary

• Tesla, Inc. shares rose after CEO Elon Musk's trip to China and endorsement from Chinese authorities for its driver-assistance technology.
• Tesla satisfies China's data security requirements, bringing it closer to upgrading its software for autonomous driving in China.
• Market traders responded favorably, leading to a rally in Tesla shares and potentially signaling a bullish breakout in the stock's downtrend.

Shares of Tesla, Inc. (TSLA) are responding favorably after CEO Elon Musk’s recent trip to China, where governmental authorities within the Chinese Communist Party ((CCP)) agreed to lift restrictions related to the company’s driver-assistance technology. China currently possesses the largest electric vehicle ((EV)) market in the world, accounting for nearly 60% of all electric vehicle sales globally , so this endorsement marks a major milestone in clearing the hurdles which will allow Tesla to ultimately make its Full Self-Driving ((FSD)) technology available in the Middle Kingdom....

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