- Tesla (TSLA) loses 3.50% at the close of trading.
- The latest version of Full Self Driving (FSD) does not convince analysts in terms of autonomous driving.
Tesla shares opened lower, setting a session high of $208.40, however, aggressive short-sellers were very active and pushed the share price to a daily low of $198.76. At the close of trading, Tesla shares were trading at $200.59, losing 3.50% on the day.
The latest Full Self-Driving (FSD) update is insufficient for autonomous driving
Although the latest version of FSD v12.5 features significant improvements in acceleration, deceleration and lane changes, recent tests show that the vehicles developed by Elon Musk are still far from fully autonomous driving.
It is important to note that the advancements in the latest update are only available for HW4 vehicles and will soon be available for HW3 models.
Analysts and investors who have been closely following Tesla’s development and innovations conclude that, although the advances are significant, there is uncertainty about what Tesla may present during its Robotaxi event, scheduled for October.
Tesla Technical Levels
TSLA shares respected a resistance at $271.00, a high reached on July 8 in convergence with the 50% Fibonacci retracement level. The closest support is located at $182.00, which is given by the low of August 5. The next key support level is located at $101.81, the pivot point of January 3, 2023.
Tesla weekly chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
