As previously announced by Elon Musk, Tesla has launched its robotaxi service in Austin, Texas. The cost of a ride is $4.20.
The service is not yet fully operational. It is more of an extended testing phase, as access is currently by invitation only, and a Tesla employee may be present in the back seat.
Nevertheless, the market responded positively — Tesla (TSLA) shares rose by more than 8% (comparing the closing prices of daily candlesticks).
Technical Analysis of TSLA Share Price Chart
In our 11 June publication, we:
→ identified an ascending channel;
→ highlighted the May support level (marked with an arrow), suggesting it could act as resistance following a bearish breakout.
Since then:
→ the channel has remained relevant;
→ the aforementioned level acted as resistance but was broken by the bulls yesterday.
As a result, the TSLA share price has reached the median of the current ascending channel, where it may find equilibrium and form a consolidation zone once the initial positive reaction to the robotaxi launch subsides.
It is also worth noting the stock’s resilience following Elon Musk’s controversy with President Trump — the price has already risen more than 28% from the June low, indicating the potential for a scenario in which resistance at $365 is tested.
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