Tesla shares are currently hovering around $360–$365, keeping their upside potential very much alive. A key boost has recently come from the Cybercab project’s transition from concept to commercial use. On September 4, the company launched limited operations of its driverless technology in Austin, bringing the total number of the registered autonomous vehicles in Texas to 420. Of course, this is just the beginning of a long road, but the successful expansion of the robotaxi project could gradually create a new, high-margin revenue stream for Tesla—one that is less dependent on its traditional automotive business.
And this is not the only tailwind: the advancement of FSD technology in Europe provided another positive signal for the stock. On September 8, Slovenia became the sixth European country to approve Tesla’s system for use on its roads, ahead of a potential pan-European vote. Broader authorization of FSD across the EU could significantly expand the subscriber base for the paid service and increase the share of Tesla’s software revenue.
From a technical perspective, stocks have been moving within a sustained upward channel, gradually marking higher lows and peaks. Following a rebound from the $297 threshold, shares continue to hold above the key $350 support level. The current dynamic in the $360–$365 range looks more like a local correction toward the channel’s floor. As long as prices stay above $350, buyers retain the upper hand. Their nearest target could be the $390 resistance level.
The final recommendation:
— Buy Tesla shares at the current price of $362, aiming for $390 within two weeks.
— Place a Stop Loss order at $350 to manage risks if the market moves against us.
This content is for informational purposes only and is not intended to be investing advice.
