Tesla stock is ripping this morning it is already up more than 5% pre-market we will quickly explain the reason behind the move and look at the chart for technical analysis stay tuned Morgan Stanley analysts including Adam Jonas and Daniela heian are sounding extremely optimistic about Tesla's future thanks to the game-changing potential of the dojo supercomputer according to them this technology could supercharge Tesla's market value potentially adding a staggering fire 00 billion the analysts believe that Dojo could unlock entirely new markets for Tesla this could be a game Cher especially considering that the market it may impact is estimated to be worth a mind-boggling 10 trillion dojo's capabilities in handling vast amounts of data for training autonomous Driving Systems give Tesla a formidable advantage in the race for self-driving technology moreover the analysts anticipate that software and services could become the primary drivers of value for Tesla moving forward Morgan Stanley has expressed such confidence in Tesla's future that they've upgraded the company's stock rating from equal weight to overweight and they've set a 12-month price target of $400 per share significantly exceeding the average analyst Target this Rosy Outlook is founded on the belief that dojo's potential impact and Tesla's commitment to Ai and self-driving technology are about to propel the company to new heights let's look at the daily time frame prices have been making a remarkable Journey upward Breaking Free from the long downtrending channel that had been in place since 2022 notably we're now firmly within the confines of a newly formed uptrend Channel which is a positive sign for bullish sentiment now let's take a closer look at our moving averages one key indicator to note is the 5-day moving average which is black is trading above the 20-day moving average this crossover is often seen as a bullish signal and suggests a short-term uptrend in the making the 20-day moving average which is the blue which had been showing signs of flattening is now set to point upwards when the Market opens this is a strong indicator of growing bullish sentiment zooming out a bit we find the 50-day moving average which is green currently sitting at 25633 if prices manage to hold Above This level for several trading sessions it could signify a strengthening bullish momentum in the market key levels to watch for the upper targets are upper 290 zones you can also argue for the large cup and handle is playing out in the grand scheme the daily time frame is showing promising signs for the Bulls we've broken free from the long-term downtrend established a new uptrend channel and witnessed some positive moving average crossovers keep a close eye on that 50-day moving average as it may play a pivotal role in confirming a sustained bullish Trend as always remember that technical analysis is just one piece of the puzzle be sure to consider other factors conduct thorough research and Implement riskmanagement strategies when making your trading decisions stay tuned for more updates and subscribe
