Chart of the day

Where do we stand fundamentally?

Full Self-Driving (FSD) Software Update: On December 2, 2024, Tesla released version 13 of its FSD software, enhancing the driving network and introducing features like the ability to reverse out of parking spaces. CEO Elon Musk anticipates that by early 2025, FSD will surpass human driving capabilities

Tesla's stock surged by 3.7% on Black Friday, contributing to a nearly 40% increase in its value for the year, and raising its market capitalization to about $1.07 trillion.

TSLA is breaking above the 350 level for an extension higher in the still ongoing third wave. This break if confirmed is opening a possibility of advancing higher for a test of 400. Now only a break below 320 would invalidate this extension higher.

The target level in this third wave is 500 if we get a significantly confirmed break above 400. TSLA is well supported at 290 level and any pullback or a consolidation before an extension higher would be supported by it.

_{Try a long trade entry with a stop loss below 290 to target 400 and higher. Trade it with a call option as well.}