Tesla Stock On Track To Rebound From Wednesday's Losses: Key Levels To Watch As Cybertruck Delivery Event Looms
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) shares are poised for a rebound in premarket trading after a 1%+ drop on Wednesday. The anticipation of the Cybertruck delivery event, scheduled for 3 p.m. ET on Thursday, could drive momentum and potential volatility. While the Tesla community is optimistic, analysts like Gene Munster and Philippe Houchois express caution, citing capacity constraints and timing concerns. Tesla's stock has shown recovery from its October 31 low, and positive reception to the Cybertruck could test resistance levels at $255.7 and $274.5, with support at $233 and $215.
November 30, 2023 | 12:18 pm
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POSITIVE IMPACT
Tesla's stock is expected to rebound from Wednesday's losses as the market anticipates the Cybertruck delivery event. Analysts are mixed, with some citing capacity issues and others questioning the timing. Positive updates could push the stock towards resistance levels, while negative sentiment could see it testing support levels.
The anticipation of the Cybertruck delivery event is a significant catalyst for Tesla's stock price in the short term. Positive news from the event could lead to an increase in investor confidence and a subsequent rise in the stock price, testing the identified resistance levels. However, the cautious stance of some analysts and potential capacity constraints could temper gains. The stock's recent recovery suggests a positive trend, but the actual impact will depend on the reception of the Cybertruck and updates provided by Elon Musk.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100