WeRide Inc. (WRD) and Uber Technologies Inc. (UBER) just announced plans to launch Spain's first commercial robotaxi pilot in the Madrid region later this year. This is their first joint expansion into Europe, and it's a big deal for both companies.

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, but the plan is to eventually scale to hundreds of robotaxis and go fully driverless.

Madrid is the fourth city in the WeRide-Uber partnership, which has a goal of deploying tens of thousands of robotaxis globally by 2030. The companies already operate fully driverless services in Abu Dhabi and Dubai, with Riyadh expected to follow.

What the Charts Say About WRD Stock

WeRide stock was trading 1.92% higher in Tuesday's premarket session, outperforming a mixed broader market. Nasdaq futures were down 0.05%, and S&P 500 futures slipped 0.18%. So investors are showing some renewed interest in autonomous driving names.

Technically, WeRide's picture has improved recently. 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. But shares remain 7.1% below the 200-day SMA of $8.58—a level many long-term investors watch closely as a trend indicator.

Despite the recent recovery, the broader trend is still mixed. The 20-day SMA is below the 50-day SMA, and the 50-day SMA is below the 200-day SMA. That bearish alignment suggests the stock is recovering but hasn't confirmed a sustained long-term uptrend yet.

Momentum indicators are looking better. The Moving Average Convergence Divergence (MACD) is above its signal line, and the histogram is positive, indicating buying pressure has strengthened and downside momentum has eased.

The next big test for bulls is near $8.50—a resistance zone just below the 200-day moving average that could attract selling pressure. On the downside, support is 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%, so 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.