Tesla stock gains 3.7% as Musk teases flying car prototype

Tesla stock gains 3.7% as Musk teases flying car prototype

Tesla Stock Gains 3.7% on Musk's Flying Car Prototype Hint

Elon Musk's recent suggestion of a Tesla flying car prototype has boosted investor enthusiasm, pushing TSLA shares up by 3.7%.

Stock Performance Overview

As of November 3, Tesla stock traded at $456.06, marking a 3.7% increase over the previous 24 hours.
The intraday high reached $457.65, with a low of $443.82, and the market opened at $446.57.

Market Reaction to Flying Car Prototype

Elon Musk referred to the flying car as Tesla's "most memorable product," sparking the rally in shares.

Technical Analysis

Tesla shares maintain a strong bullish trend, trading above the 50-day and 200-day moving averages.

The 50-day simple moving average (SMA) is close to $430.
The 200-day SMA is near $400.

Staying above these averages signals sustained investor confidence in Tesla's medium to long-term growth.

Support and Resistance Levels

Support lies between $430 and $440, supported by the 50-day SMA and recent trading lows.
Resistance exists around $470 to $480, linked to past rally stalls and psychological price points.

A breakout above $480 could drive the stock toward $500–$520 by year-end, while a drop below $430 risks a pullback to $400.

Summary

Tesla's stock continues to show strength fueled by innovations like the flying car prototype, maintaining a bullish trajectory.

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Traders Union — 2025-11-03

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