Tesla (TSLA) Share Price Rises Ahead of Earnings Report
On 16 September, we noted signs of a strong market for Tesla (TSLA) shares, including:
→ The price remaining above the psychological level of $400;
→ Reaching the highest levels since late January.
We also identified an ascending channel and suggested that the long-term outlook remained optimistic, although a correction could not be ruled out.
Since then, TSLA shares have stabilised near the upper boundary of the channel, holding above the $400 level. On Friday, they were among the market leaders, rising by more than 4%. This brings the gain since the start of September to around +30%.
Why Are TSLA Shares Rising?Key factors supporting a bullish outlook include:
→ Sentiment ahead of the quarterly Production and Deliveries report, expected this week. According to recent forecasts, actual figures could exceed expectations (although still showing a decline compared to the previous year).
→ Target price upgrades. Dan Ives of Wedbush, one of Tesla?s most prominent bulls, last week raised his target price to $600 ? the highest on Wall Street ? citing substantial potential in AI and robotaxi development.
→ The ?Musk factor?: Discussions around Elon Musk stepping away from politics are seen as a long-term positive driver.
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