Veteran analyst Mark Newton suggests Tesla’s stock breakout hinges on a crucial chart level. Momentum is improving, with potential upside if investors respect the threshold. Tesla’s recent struggles include declining delivery numbers and profitability, impacted by an aging car lineup and global delivery challenges. Tesla’s stock faces a critical chart point at $338, with potential for a move to $368 if buyers defend the level. Tesla’s recent rally is tied to advancements in Robotaxi ambitions, including Texas approving Tesla as a Transportation Network Company. Tesla is positioned to scale automation for a fully driverless service in the future under Texas’s new regulatory framework. Model Y wait times have increased, signaling potential demand strength and a cleaner narrative for Tesla’s future.

Read more at Yahoo Finance: Veteran analyst says Tesla Stock’s breakout rides on one key level