Tesla Inc (NASDAQ:TSLA) stock revved up in September, soaring over 24% and leaving its Magnificent Seven peers in the dust.
Year-to-date gains for the car manufacturer stock are a modest 5.32%. Still, Tesla's recent surge outpaces rivals like Nvidia Corp (NASDAQ:NVDA) and Amazon.com Inc (NASDAQ:AMZN) by a wide margin.
The question now: Can Tesla sustain this rally, or is it running out of gas?
Performance Snapshot: Tesla Vs. Mag7 Peers
Stock
1-Month
Year-to-Date
1-Year
Tesla Inc (NASDAQ:TSLA)
24.23%
5.32%
3.99%
Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG)
5.40%
20.03%
23.61%
Nvidia Corp (NASDAQ:NVDA)
12.44%
152.11%
171.19%
Microsoft Corp (NASDAQ:MSFT)
5.09%
16.02%
33.72%
Meta Platforms Inc (NASDAQ:META)
11.86%
65.31%
86.57%
Amazon.com Inc (NASDAQ:AMZN)
5.72%
24.28%
43.93%
Apple Inc (NASDAQ:AAPL)
4.59%
25.51%
34.10%
Created By Author, Data Source Benzinga Pro
Tesla's impressive 24.23% gain over the past month was driven by multiple catalysts.
Early September saw Tesla stock break through the resistance at $235, buoyed by strong China sales and anticipation surrounding the company's full self-driving (FSD) rollout.
What's Next For Tesla?
The upcoming Robotaxi event, scheduled for Oct. 10 in Los Angeles, is also fueling investor optimism. CEO Elon Musk has hyped this event as potentially Tesla's most significant moment since the Model 3 launch, and Wall Street bulls like Dan Ives and Adam Jonas expect key updates on FSD and autonomous driving.
Tesla's October is shaping up to be pivotal. Along with third-quarter delivery data and earnings, the highly anticipated Robotaxi event could keep momentum rolling.
Analysts are eyeing updates on operating costs, scale, and a potential 'CyberCab' unveiling, which could take Tesla's autonomous vehicle narrative to the next level.
Read Also: Chinese EV Trio Nio, XPeng, Li Auto Surge Higher In Tuesday's Premarket: What's Going On
Stock Outlook Remains Bullish
From a technical perspective, Tesla stock's outlook remains bullish.
Chart created using Benzinga Pro
The stock is trading above its key moving averages (five, 20, 50 and 200-day), with the 50-day average at $223.06 and the current price at $262.50, indicating strong upward momentum.
Chart created using Benzinga Pro
The MACD (Moving Average Convergence/Divergence) sits at 11.56, further suggesting a bullish trend, though an RSI (Relative Strength Index) of 68.16 indicates the stock may be approaching overbought territory.
Can Tesla keep up the pace? With its Robotaxi event and solid technicals, it's worth watching closely. However, its rally could face resistance if key updates underwhelm.
Tesla Bull Sees 'Breadcrumbs' From Elon Musk On EV Giant's Potential Entry Into Aviation Segment, Says It Could Boost Tesla Stock By This Much If His Theory Materializes
Image: Shutterstock
Tesla Inc (NASDAQ:TSLA) stock revved up in September, soaring over 24% and leaving its Magnificent Seven peers in the dust.
Year-to-date gains for the car manufacturer stock are a modest 5.32%. Still, Tesla's recent surge outpaces rivals like Nvidia Corp (NASDAQ:NVDA) and Amazon.com Inc (NASDAQ:AMZN) by a wide margin.
The question now: Can Tesla sustain this rally, or is it running out of gas?
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
Tesla's impressive 24.23% gain over the past month was driven by multiple catalysts. 
テスラは過去1か月間で印象的な24.23%の上昇を達成し、複数のカタリストによって推進されました。 
