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Tesla Stock Tests $369 as Robotaxi Progress Meets China Recall Risk

Tesla Stock Tests $369 as Robotaxi Progress Meets China Recall Risk

TradingKey – Tesla begins September at $367.71, almost at the provided $367.76 value, as it recovers from the end of July doldrums at $297.57. The stock is pushing right up against a large Fibonacci zone resistance of $368.83. There are record Q2 deliveries and Cybercab production, which is all supporting the autonomous thesis, but there are weak profit margins, the China recall, and new legal issues in Australia that result in a rather distinct ‘sleep on this one’ scenario.

Q2 Deliveries Rebounded, but Profitability Stayed Weak

Over 406,024 vehicles were projected to be delivered for Q2, but the company bettered that number with 480,126 deliveries. Production hit 451,758 and energy storage deployments amounted to 13.5 GWh. Model 3 and…

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