Tesla Stock Gains 3.7% as Musk Teases Flying Car Prototype
Elon Musk’s mention of a possible Tesla flying car prototype ignited strong investor optimism, driving TSLA shares higher by 3.7%. As of November 3, Tesla’s stock is trading at $456.06, marking a 3.7% rise in the past 24 hours. The session’s high reached $457.65, the low hit $443.82, and the opening price stood at $446.57.
“Most memorable product,” Elon Musk said about the potential Tesla flying car.
Stock Performance and Technical Outlook
Tesla shares continue to display a bullish structure, holding well above key moving averages. The 50-day simple moving average (SMA) is around $430, while the 200-day SMA is near $400. Staying above both indicates a persistent upward trend and reinforces investor confidence in the brand’s long-term growth.
Support and Resistance Levels
- Support: $430–$440, supported by the 50-day SMA and the lower edge of Tesla’s recent range.
- Resistance: $470–$480, an area where Tesla previously struggled to maintain momentum.
Analysts suggest that a breakout above $480 could propel Tesla’s price toward $500–$520 by the end of the year, while a decline below $430 might trigger a short-term pullback toward $400.
Summary
Tesla (TSLA) continues to show strength, staying above crucial moving averages and signaling enduring investor confidence amid excitement over potential future innovations.
Author’s summary: Tesla’s renewed momentum reflects both strong technical indicators and growing enthusiasm over Elon Musk’s flying car tease.