Tesla Inc (NASDAQ:TSLA) shares are rising Thursday. The company’s official Robotaxi account announced expanded service hours and a larger unsupervised fleet, with the upcoming Cybercab launch adding to the momentum.
- Tesla stock is gaining positive traction. Why is TSLA stock advancing?
Tesla Expands Robotaxi Hours and Fleet Size
Tesla’s Robotaxi team posted an update on Wednesday, saying passengers can now hail a ride between 6 a.m. and 10 p.m., any day of the week, in every city where the service currently operates. The post also claimed a noticeably bigger lineup of driverless cars on the road, though there were no details on the actual growth metrics.
Tesla said it also upgraded intelligence in vehicle distribution and routing, resulting in shorter wait times for riders.
The underlying shift appears to be a dispatch system that predicts where riders will need a car before they even open the app, sending vehicles toward likely hotspots in advance rather than scrambling only once a request comes through, according to Teslarati.
It’s the same predictive playbook Tesla already relies on for its self-driving neural networks, so pointing those tools at fleet logistics is more of a repurposing than a brand-new undertaking.
The update comes just before Tesla’s purpose-built robotaxi, a compact two-seater stripped of any steering wheel or foot pedals, is set to make its public debut in Austin on Sept. 3, with those cars expected to merge into the broader Robotaxi lineup soon after.
Tesla Stock In Repair Mode
Tesla stock remains in the middle of a longer-term recovery process. Shares sit 11.8% under their 200-day average of $401.41 and 7.1% below the 100-day mark of $380.88. The stock is also below its 50-day moving average of $361.41, keeping that level in focus as the next real test for anyone betting on further upside on the back of recent momentum.
The shorter-term setup looks healthier. Shares are trading roughly 5.1% above their 20-day average of $336.89, a sign the recent bounce has some genuine momentum behind it over the near term. Still, the broader moving-average alignment isn’t fully cooperating, with the 20-day sitting below the 50-day and an April death cross, when the 50-day fell under the 200-day, serving as a reminder that the larger downtrend hasn’t been fully undone.
Momentum tells a calmer story. The relative strength index reads 53.48, landing in neutral ground, no longer near the oversold levels hit in July or the overbought extremes from May. Essentially, that reading suggests the stock has room to move in either direction without being overstretched.
Traders are watching $409.50 as resistance, a previous ceiling in the low $400s that also lines up with where several longer-term averages are clustered overhead, and $297.50 as support, close to the 52-week low where buyers have previously stepped in.
TSLA Shares Are Climbing
TSLA Price Action: Tesla shares were up 2.47% at $354.36 at the time of publication on Thursday, according to Benzinga Pro.
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