Written by:
- Chart of the Day
- September 4, 2026
- 4 min read
Tesla Excites Markets with Cybercab Deployment in Austin, Texas
Tesla rose 5.42% on Thursday as investors positioned for the Cybercab launch event in Austin, Texas.
The stock closed at $376.37, above its gap down area at $370.
Tesla’s public offering of its Cybercab in limited parts of Austin, adding to their network of robotaxis which previously used older models such as the autonomous Model Ys.
With this addition, Tesla’s autonomous vehicles registered in the state of Texas rises to 420 including 45 Cybercabs, versus Waymo’s 988 – amping up the competition in the robotaxi space.
Many users are already reporting on X that Tesla’s Cybercab is much cheaper than Uber for similar rides.
Although, we do have to be cognisant of how much of this is potentially just a loss-leading stunt before wider adoption.
Tesla has not published a normalised fare schedule and executives said pricing will be dynamic, so these early examples do not prove that Cybercab will remain 40-50% cheaper at scale.
Uber’s Layoffs Fanned the Flames of a Robotaxi Future
Another boost to Tesla’s recent growth story, and that is Uber’s global corporate layoffs of around 3,300 positions, or roughly 10% of its workforce.
CEO Dara Khosrowshahi officially framed the move around restructuring, flatter management and faster decision-making.
Many investors took this decision as Uber clearly preparing for the same future Tesla is betting on: self-driving vehicles in the ride hailing industry.
Tesla’s Price Closes Above its Previous Gap Down
All in all, these recent headlines are stirring excitement for the robotaxi business.
TSLA closed at $376.37 on September 3, above $370 where it previously gapped down from, and briefly pushed above $380 intraday.
However, on a technical basis, TSLA is still facing resistance from $364-$380, and could get rejected here.
Bearish RSI divergence on the daily timeframe is signalling some momentum weakness in the short term as well.
For now, upside could be limited unless Tesla can properly clear the zone.
But the excitement for Tesla’s future is real.
How to Gauge Tesla’s Short-Term Health
To gauge when Tesla’s local uptrend is fading, I’d watch the 50 EMA Bollinger Band® on the 1H timeframe.
Notice how Tesla has been grinding above that green band, set to one standard deviation, since early August.
Even as price returns to and breaks the 50 EMA, it has repeatedly found support around the wider band before eventually pushing higher.
So if Tesla returns to this band, watch whether it can continue to hold it.
My primary expectation is that we need a broader retrace for now, with the price losing $364 as the first confirmation.
Then, a sustained loss of the 1H 50 EMA band as the stronger signal.
Limitations and Headwinds to Watch
The road towards robotaxi normalisation is still filled with challenges.
Uber’s corporate layoffs just as Tesla pushes Cybercab onto public roads also feeds the wider concern that AI and automation will replace jobs (even if Uber’s restructuring cannot be reduced to robotaxis alone).
Even bigger as a concern is regulation.
Cybercab has no conventional steering wheel, brake pedal, accelerator or mirrors, and regulators are now reviewing Tesla’s determination that some traditional requirements do not apply to a purpose-built autonomous vehicle.
Road safety is also an industry-wide problem. In June, Waymo recalled 3,871 autonomous-driving systems because vehicles could enter closed freeway construction zones.
That followed a separate May recall covering 3,791 systems after an unoccupied Waymo entered a flooded roadway in San Antonio.
| Bull case: If Tesla can keep fares low, prove the safety case and expand beyond Austin, the robotaxi business becomes a much more credible long-term growth story. |
| Bear case: If Cybercabs begin causing visible accidents, or regulators make expansion significantly harder, the excitement around broader adoption would quickly come under pressure. |
Bottom Line
For now, I would separate the long-term story from the short-term chart.
Cybercab deployment gives investors another reason to be excited about Tesla beyond ordinary EV sales. At the same time, TSLA is still sitting inside resistance, with bearish momentum divergence and fresh regulatory scrutiny after launch.
A clean break above $380 would weaken my expectation for a near-term retrace. If $364 gives way first, and the 1H 50 EMA band follows, a rollover is more likely.
