Current Tesla TSLA stock price trends show an upward bias with the 50-day moving average crossing above the 200-day average, known as a “golden cross” in trading terms. This typically draws momentum investors, hinting at possible sustained rallies through the next quarter. Shortly after, Musk scooped up $1 billion worth of company shares. Basically, the board bet that Musk’s leadership is the only way Tesla can successfully pivot into AI, autonomous vehicles and robotics. And Musk’s $1 billion share purchase added to that narrative of commitment. Three major firms have reiterated Sell ratings on Tesla (TSLA) after the company reported strong third-quarter deliveries . Yet, analysts said the rise in numbers was likely driven by a wave of buyers rushing to purchase before the U.S. electric vehicle tax credit expired. A bullish engulfing candlestick formed on Tesla TSLA stock price’s daily chart yesterday, a signal often interpreted by traders as a potential reversal to the upside from short-term weakness seen last week.
