BUZZ-Tesla set for best day in nearly one month, strategist points to technical factors
Electric vehicle maker Tesla TSLA.O jumps as much as 6.9%, last up 4.4% at $351.14, and on pace for best session since January 15
Shares on track to rise about 6.3% since Wednesday
Shares snapped a five-session losing streak on Wednesday; TSLA has been volatile after fourth-quarter results on concerns about the impact of U.S. import tariffs, falling sales in China and Germany
Co's stock price has found technical support around the $330 price level, says Jay Woods, chief global strategist, Freedom Capital Markets
"Individually, Tesla had a (strong) run, then retraced a lot of its move ... this is more of a technical rebound" — Woods
Investors are also assessing TSLA and X CEO Elon Musk's bid for ChatGPT maker OpenAI, and his role as head of Donald Trump's Department of Government Efficiency (DOGE)
Including day's moves, TSLA has fallen about 26% from its record close on December 17, is down over 13% this year after soaring nearly 63% in 2024
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