Tesla stock rises above 200-day SMA as recovery gathers momentum
Tesla stock is extending its rebound after the recent sharp selloff, pushing back toward an important technical level. After such a fast recovery, however, buyers still need to prove that the upward momentum can hold.
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Finland’s transport regulator Traficom has approved the use of Tesla Assisted Driving on Finnish roads. The company can begin offering the system to customers, although broader EU-wide approval is still pending.
Conditions in China remain more challenging. According to CPCA data, Tesla sold 8,817 vehicles in China in October, down 66% from a year earlier. Exports from the Shanghai plant, however, rose to 59,012 vehicles, helping support overall deliveries.
Analysts are also taking a more cautious view. Jefferies cut its Tesla price target from $400 to $375 while maintaining a Hold rating.
Holding above $383.50 could extend recovery toward $395
Tesla stock fully completed the scenario outlined previously. The price reached the $367.50 target and continued higher to $382.20.
For the short-term bearish structure to improve, TSLA needed to establish itself above the 200-day SMA. In premarket trading on November 11, the stock has already moved above the indicator and is trading near $387.
If the shares can hold above $383.50 during the regular session, the rebound could extend into the $390–395 zone.
After gaining more than 14% from the November 5 local low, however, the stock may begin to lose momentum. A retest of the 200-day SMA near $383.50 and the 50-day SMA around $373 cannot be ruled out, so traders should also be prepared for that scenario.
Inflation and rising Treasury yields threaten the recovery
Despite Tesla’s rebound, macroeconomic risks remain elevated. According to BLS data, U.S. inflation rose 0.4% in October versus expectations of 0.3%, strengthening expectations of a Federal Reserve rate hike in December.
Against that backdrop, the 10-year U.S. Treasury yield briefly reached 5% during trading on November 10. Higher yields make bonds more attractive relative to risk assets and could add renewed pressure to technology stocks.
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