Tesla gains approval for government vehicle procurement in China
Tesla Inc. has received approval for its Model Y vehicles manufactured in Shanghai to be included in the new vehicle procurement batches for official use by government and public organisations in Jiangsu Province, China. This marked a significant development for Tesla, indicating strong support from the Chinese government. It comes after assurances that Tesla's data collection practices meet local requirements following a data centre establishment and plans to release Full Self-Driving software in the PRC this year.
The recent engagements between Tesla CEO Elon Musk and Chinese Premier Li Qiang also seem to have contributed to bolstering the company's position amid the ongoing US-China technology tensions. This new allowance for government agencies to purchase Tesla cars could boost Tesla's sales and presence in the Chinese market.
Technical analysis of Tesla Inc (NASDAQ: TSLA)
Analysing the potential trading opportunities based on Tesla's stock performance:
Investors should closely monitor Tesla's performance, especially after these new developments in China, as they could significantly impact the company's stock valuation and market strategy.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
The recent engagements between Tesla CEO Elon Musk and Chinese Premier Li Qiang also seem to have contributed to bolstering the company's position amid the ongoing US-China technology tensions. This new allowance for government agencies to purchase Tesla cars could boost Tesla's sales and presence in the Chinese market.
Technical analysis of Tesla Inc (NASDAQ: TSLA)
Analysing the potential trading opportunities based on Tesla's stock performance:
- Timeframe: Daily (D1)
- Current trend: the stock is currently in an uptrend, demonstrating strong growth potential
- Resistance level: the last known resistance at 198.85 USD has been surpassed, and no new resistance has been established
- Support level: 179.65 USD
- Potential downtrend target: if a downtrend initiates, the downside target could be set at 160.00 USD
- Short-term target: if the uptrend continues, the next short-term target could be around 310.00 USD upon rebounding from the resistance level
- Medium-term target: with sustained positive momentum, the stock price might rise to approximately 345.00 USD
Investors should closely monitor Tesla's performance, especially after these new developments in China, as they could significantly impact the company's stock valuation and market strategy.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
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