Tesla (TSLA.US) shares gained more than 5.5% on Monday, breaking a six-session streak of declines after brokerage Baird Equity Research added Tesla shares to its 'best ideas' list.
The financial institution backed up its decision with a communiqué in which analysts recognise that price cuts and their impact on margins will drive the narrative around the company in the second half of the year, but for interest in the company to develop to its full potential, other factors will need to be met, such as the launch of production and sales of Cybertruck cars, wider adoption of fully autonomous driving and expansion into new markets.
As a reminder, the company has already added more than 85% this year on a wave of rising sales.
The company's shares stopped the wave of declines on the weekly interval in the support zone defined by the 50-week EMA and the 100-week EMA (blue and purple curves respectively). Source: xStation 5
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