Tesla stock gains 3.7% as Musk teases flying car prototype

Tesla Stock Gains 3.7% as Musk Teases Flying Car Prototype

Elon Musk’s remarks about a potential Tesla flying car prototype ignited investor enthusiasm, sending TSLA shares up 3.7%.

Market Performance

As of November 3, Tesla shares trade at $456.06, marking a 3.7% rise in 24 hours. The stock opened at $446.57, reached an intraday high of $457.65, and dipped to a low of $443.82.

Key Announcement

Elon Musk called the proposed vehicle “the company’s most memorable product.”

His comment spurred renewed optimism about Tesla’s innovation pipeline, strengthening bullish sentiment.

Technical Overview

The stock continues to trade above its 50-day and 200-day moving averages, indicating a healthy uptrend.
A decisive move above $480 could propel the price toward $500–$520 by year-end.
Conversely, a fall below $430 may trigger a pullback to around $400.

Support and Resistance

Support sits between $430 and $440, reinforced by the 50-day simple moving average and the lower boundary of the recent range. Buyers often emerge at this level, limiting declines. Resistance is found in the $470–$480 area, associated with strong psychological and technical barriers where earlier rallies ran into selling pressure.

Trend and Outlook

Tesla’s chart remains constructive, showing firm control by buyers. The sustained position above key averages underscores market confidence in the company’s medium- and long-term growth prospects.

Author’s Summary

Tesla shares rose 3.7% after Elon Musk hinted at a flying car prototype, reinforcing bullish market sentiment and investor confidence in continued growth.

Traders Union — 2025-11-03