Tesla is a market that I’m watching very closely because we are in a technically important area. This being said, I still believe in the upside for this market, eventually.
- Tesla is a market that I’m watching very closely because we are at a technically important area, and it is a market that I think you have to pay close attention to because it will lead a lot of what happens in the Nasdaq 100 more often than not.
- There is an obvious support level in the form of $420, and as long as we can stay above there, I do remain bullish, although you’re going to have to be somewhat patient here as the markets seem to be grinding overall.
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I also recognize that $500 is likely to end up being your target eventually. There are some concerns out there, as even though broader AI-linked companies rally, investors in Tesla are receiving mixed signals, as the Model Y was the top-selling EV of 2025, but the fourth quarter deliveries did drop 15% year over year. The deadline for the full self-driving probe from the NHTSA has been extended to late February, so that helps Tesla as it gives a little bit of relief.
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But I think really at this point in time, what we are looking at is the upcoming earnings date on the 28th, or perhaps concrete updates on the Cybercab rollout to justify the valuation. Ultimately, I think the $445 level is something you need to watch because if we could break above there, I think that opens up $460 and then eventually $500.
If we break down below the $420 level, then we’re probably going to have to reset, I imagine, somewhere closer to the 200-day EMA. This would be bearish, but not necessarily fatal at this point.
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