Tesla stock (NASDAQ:TSLA) traded 2% lower in Monday’s premarket on National Transportation Safety Board chief Jennifer Homendy’s comments that the carmaker should first address safety deficiencies in its full self-driving technology before enabling it for city driving.
Chief Executive Elon Musk last week said drivers would soon be able to request an enhanced version of what it calls “Full Self-Driving” capability. The upgrade aims to help vehicles navigate cities mostly on their own without the driver’s involvement, a feature that was so far limited to driving on highways.
“Basic safety issues have to be addressed before they’re then expanding it to other city streets and other areas,” she told The Wall Street Journal. Homendy also expressed concern about how Tesla software is tested on public roadways.
Homendy called Tesla’s use of the term ‘Full Self-Driving’ “misleading and irresponsible.”
The technology doesn’t make the vehicle fully autonomous. Tesla advises drivers to remain alert, with their hands on the wheel.
On technical fronts Tesla (NASDAQ:TSLA) RSI stood at 65.43 and currently stock is trading above all Moving Average. So, BUY position can be taken with following target and stoploss:
TRADE SIGNAL – : Tesla (NASDAQ:TSLA) – BUY : 759.85, TARGET: 763.00, STOP LOSS : 750.78