WeRide Inc. (NASDAQ:WRD) and Uber Technologies Inc. (NYSE:UBER) on Tuesday announced plans to launch Spain’s first commercial robotaxi pilot in the Madrid region later this year, marking their first joint expansion into Europe.
The service will operate through the Uber app in partnership with Madrid’s regional government and AVOMO, a Moove Cars Group company. The initial fleet will include trained vehicle operators, with plans to expand to hundreds of robotaxis and eventually fully driverless service.
The Madrid launch is the fourth city under WeRide and Uber’s partnership, which aims to deploy tens of thousands of robotaxis globally by 2030. The companies already operate fully driverless robotaxi services in Abu Dhabi and Dubai, with Riyadh expected to follow.
WRD Chart Signals Rebound, But Long-Term Trend Remains Uncertain
WeRide stock was trading 1.92% higher in Tuesday’s premarket session, outperforming a mixed broader market as investors showed renewed interest in select growth and autonomous driving names. Nasdaq futures were down 0.05%, while S&P 500 futures slipped 0.18%.
WeRide’s technical picture has improved in recent weeks. The stock is trading 7.1% above its 20-day simple moving average (SMA) of $7.44, 5% above its 50-day SMA of $7.59 and 4.3% above its 100-day SMA of $7.64. However, shares remain 7.1% below the 200-day SMA of $8.58, a level many long-term investors view as a key trend indicator.
Despite the recent recovery, the broader trend remains mixed. The 20-day SMA is still below the 50-day SMA, while the 50-day SMA remains below the 200-day SMA. This bearish alignment suggests the stock is recovering but has not yet confirmed a sustained long-term uptrend.
Momentum indicators are showing improvement. The Moving Average Convergence Divergence (MACD) remains above its signal line, and the histogram is positive, indicating buying pressure has strengthened and downside momentum has eased.
The next major test for bulls is near $8.50, a resistance zone that sits just below the 200-day moving average and could attract selling pressure.
On the downside, support is located near $6.50, an area where buyers previously stepped in above the stock’s 52-week low of $6.00.
Over the past 12 months, WeRide shares have declined 20.3%, suggesting rallies toward resistance could continue to face profit-taking from longer-term holders.
WRD Stock Price Activity: WeRide shares were up 1.92% at $7.96 during premarket trading on Tuesday, according to Benzinga Pro data.
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