VinFast Auto Ltd. (NASDAQ:VFS) has flipped the script. After a sharp late-March rally that caught traders' attention, the EV maker has now flashed a Golden Cross—a bullish technical signal that's putting Tesla, Inc‘s (NASDAQ:TSLA) emerging Vietnamese rival firmly back on the radar.

Chart created using Benzinga Pro

Parabolic Move Sparks Breakout

The setup follows a near-parabolic surge between March 18 and early April, where VinFast stock climbed rapidly on heavy volume.

The move was driven by a mix of delivery momentum, expansion buzz in India and Southeast Asia, and a low-float, momentum-fueled breakout.

As the stock cleared key resistance levels, buying accelerated—turning a steady climb into a sharp spike.

Momentum Builds, But Shows Signs Of Cooling

Technically, the trend has turned bullish—but momentum is beginning to normalize.

The eight-day and 20-day moving averages (around $4.15 and $3.81) have crossed above longer-term averages, reflecting bullish momentum in place. The 50-day has crossed over the 200-day moving average, confirming the Golden Cross.

The MACD (moving average convergence/divergence) indicator remains in positive territory (0.27), although its slope is flattening, while RSI (relative strength index) in the mid-60s reflects strength without entering overbought conditions.

Volume, which surged during the breakout, has started to taper—often a sign the stock may enter a consolidation phase before its next move.

Tesla Rival Narrative Returns

VinFast's aggressive push into Asia—particularly India—is bringing comparisons with Tesla back into focus.

While the scale gap remains significant, the combination of expansion momentum and improving technicals is positioning VinFast as a regional EV contender.

Momentum Vs. Execution

The bigger question is sustainability.

VinFast remains loss-making, and execution will be critical as competition intensifies across both global and regional EV markets.

For now, the chart is leading the story. The Golden Cross signals a bullish shift—but whether it evolves into a sustained uptrend or fades as a momentum spike will depend on what comes next.

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