Shares of Tesla bounced up again above $225. A second attempt since August 20 is likely to become more successful. Technically, one more local low at nearly $202.60 has already been shaped between these two highs. Fundamentally, the current move just has a much more defensible ground as newswires broadcasted today that the hyping EV maker newly got a necessary approval from regulators in the EU and China to roll out its full self-driving (FSD) advanced assistance software.
An encouraging news is coming a month before Tesla would supposedly give additional information on the so-called Cybercab, which is a robotaxi. The FSD technology is vital for driving robotaxi in cities, being probably used in highways with human supervision. Tesla CEOs previously said that the FSD approval was expected in both regions by the end of the year, and now things are going ahead of schedule. The leader and mastermind of the company, Elon Musk, commented today that the FSD software could be launched in right-hand drive markets in "late first quarter" or "early in the April-June period". As some of his optimistic targets for FSD, as well as for Cybertruck, were missed in the past, today's dating looks unchangeable, given the regulatory circumstances, especially since his gigafactory in Shanghai already used a test mode for the FSD assistance at least on ten electric cars to make the possible mass launch of the product much easier.
In my estimate, Tesla would be traded within the higher range from $227 to $255 through September and October, giving a chance to raise some money for short-term traders. The nearest stop could be between $235 and $238.5 per share. However, its principal framework on the one-year or two-year horizon may remain the same, with possible mid-term gains being rather limited by this summer's hurried peaks around $270.
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