• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Economy

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

by November 19, 2024
written by November 19, 2024

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.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Truth Social app on the Nasdaq as DJT, closed 16% higher
next post
Trump naming Cabinet officials at ‘warp speed,’ far head of first term pace

related articles

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Memecoins, AI, and DeFi Tokens Lead Crypto Rebound

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Germany accuses Elon Musk of trying to interfere in its national elections

    December 30, 2024
  • Shopify stock soars 22% on earnings beat despite consumer spending slowdown: Time to buy?

    August 7, 2024
  • Dems’ Gaetz outrage follows long history of questionable DOJ acts under Biden

    November 19, 2024
  • Biden says ‘The choice is up to you, the American people’ while saying he won’t seek re-election

    July 25, 2024
  • Democratic congressman hurls profanity-laced message at Stephen Miller

    June 25, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,238)
  • Investing (634)
  • Stock (831)

Latest Posts

  • Biden’s past comments about MAGA Republicans come back to haunt him as White House spins ‘garbage’ remarks

    October 31, 2024
  • Senate panel navigates delicate compromises on Medicaid, taxes in latest chunk of Trump’s megabill

    June 16, 2025
  • Watchdog sues Pentagon for withholding promotion data they believe will show DEI at play

    September 26, 2024

Recent Posts

  • GEMS VIP Coin: Revolutionising Blockchain Investment

    September 5, 2024
  • American Eagle shares plunge 17% after it withdraws guidance, writes off $75 million in inventory

    May 14, 2025
  • Get to know Donald Trump’s Cabinet: Who has the president-elect picked so far?

    November 18, 2024

Editor’s Pick

  • John Kirby denies US involvement in Lebanon device attacks: ‘We want to see the war end’

    September 19, 2024
  • NIH director clarifies HHS communications freeze, confirms some essential functions can continue

    January 28, 2025
  • Taiwan eyes $15B military package in signal to Trump administration it is ‘serious’ on defense: report

    November 11, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.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 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock