Tesla Stock Recharges: TSLA Bullish Break, $1T Market Cap after 17% Weekly Rally
Tesla stock came roaring back into bullish territory this week, fueled by investor optimism, geopolitical developments, and a string of posi
Quick overview
- Tesla stock surged 17% this week, marking a strong return to bullish territory after a four-week winning streak.
- Investor optimism was fueled by easing U.S.-China trade tensions and positive news regarding Tesla's upcoming Robotaxi service launch.
- CEO Elon Musk's involvement in international discussions further boosted investor confidence and Tesla's market appeal.
- With strong fundamentals and technical momentum, Tesla is poised to potentially revisit its December highs near $488.
Tesla stock came roaring back into bullish territory this week, fueled by investor optimism, geopolitical developments, and a string of positive headlines.
Tesla Reclaims Bullish Momentum After 17% Weekly Rally
Tesla (TSLA) has reignited bullish sentiment on Wall Street, ending the week with a powerful 17% gain. The electric vehicle giant’s stock surged steadily over the last several sessions, extending its winning streak to four consecutive weeks.
The rally began with a significant bullish gap on Monday, aligned with broader market optimism sparked by easing U.S.-China trade tensions.
TSLA Chart Weekly – Breaking Clearly Above the 20 SMA
Having rebounded convincingly from the $220 support zone, Tesla shares have soared more than 60% in just a month. On Friday, the stock climbed an additional 2% to close just shy of $350, marking its highest weekly close in months. Despite still being down around 13% year-to-date, Tesla now appears poised to revisit its December highs near $488, provided it continues to clear key technical resistance levels.
Strong Fundamentals and Newsflow Drive the Move
Momentum gathered pace early in the week as investor risk appetite surged. Last week’s close at $298.28 already marked a 5% advance, but the pace quickened sharply on Monday with a further 6% jump. The broader equity market also enjoyed a lift, and Tesla benefitted from this supportive backdrop.
Part of the enthusiasm was driven by news that Tesla’s long-awaited Robotaxi service will launch in June from Austin, Texas, and San Francisco. The announcement further reinforced Tesla’s leadership in autonomous vehicle innovation and brought renewed attention to its future growth narrative.
Geopolitics Boost Musk’s Profile and Tesla’s Appeal
CEO Elon Musk’s involvement in President Trump’s tour of the Middle East and Saudi Arabia added an additional tailwind. His appearance at the Saudi-US Investment Forum, where he discussed launching the autonomous Cybercab service in Saudi Arabia, strengthened investor confidence. Saudi officials warmly welcomed Musk, with the Kingdom’s IT Minister calling him a “lifelong friend and partner.”
These developments, combined with solid technical action and the return of bullish sentiment in global equities, helped push Tesla’s market capitalization back above the $1 trillion mark for the second time.
Outlook: Aiming for December Highs
With renewed buying interest, favorable headlines, and a firm technical breakout, Tesla’s stock looks well-positioned for a continued run. Assuming no major setbacks, a retest of the December highs now appears increasingly likely in the near term.
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