Articles tagged with TSLA
Most companies see their stock market valuation go up or down based on what they do or don't do. Sometimes, however, companies will benefit when another company fails to impress. That's exactly what happened last week as Tesla, Inc. (TSLA) held its robotaxi event. Investors treated it as though it was a dud, sending TSLA's shares reeling. The TSLA event and weakness, though, turned out to be reason to party at Uber Technologies (UBER), as you can see below:...keep reading
On Wednesday, I provided you an example of how retail traders are manipulated with respect to Apple, Inc. (AAPL). AAPL promptly exploded on Thursday, gaining 4.3% and finishing 3rd out of 500 stocks on the S&P 500. Volume surged to more than 91 million shares and it was the biggest hollow candle (biggest % gain from open to close) since February 3, 2023. Well, this type of manipulation is not an isolated situation. Ready to take a look at Tesla, Inc. (TSLA)?...keep reading
Last week, we saw not-so-great market action as the S&P 500 fell 2.67%. Of the 104 industry groups, automobiles ($DJUSAU) performed 103rd out of 104 last week, falling 6.27%. Granted, much of the auto performance revolves around Tesla (TSLA), which is a huge component stock. However, I'm concerned about another name in the auto space, one that has been a very poor relative performer in the group. I'm talking about Rivian Automotive, Inc. (RIVN), which fell more than 14% last week and isn't far from its low since going public in November 2021. Here's the current chart:...keep reading
For a long time, and certainly throughout 2022, consumer discretionary (XLY) was under tremendous selling pressure as both Amazon.com (AMZN) and Tesla (TSLA), the top two component stocks in the ETF, fell precipitously. However, both stocks have now stabilized, despite the weak response to AMZN's quarterly report on Friday, and we're now seeing this key consumer ETF outpacing the more defensive consumer area - staples (XLP):...keep reading
The beauty of most patterns is that they can be used to determine "measurements" or target prices. These measurements can be to the upside or the downside. For today, let's discuss the downside target for Tesla, Inc. (TSLA) after this cult stock broke its neckline in October to trigger one of the most shocking declines of 2022. The first important note is that topping head & shoulders patterns ALWAYS follow an uptrend. If you don't have a prior uptrend, then it's not likely you have a head & shoulders pattern. On this TSLA chart, it all begins with the huge advance that TSLA made post-pandemic, from the March 2020 low:...keep reading