TESLA INC. (NASDAQ:TSLA): Wedbush Has Good News For Tesla Bulls


 

Tesla stock jumped 4.91% on Fri, to close at $133.42, after a Wedbush survey based upon over 500 prospective EV buyers in China showed that 76% of EV Chinese consumers are considering buying a Tesla after price cuts, while BYD came in second place followed by Nio, per Yahoo Finance. Tesla stock is now retesting the trendline resistance at around $124.35 and $135.13.

On Tue, China Merchants Bank International (CMBI) also reported identical numbers to the Wedbush survey, showing that average daily sales for Tesla in China during the Jan 9 to Jan 15 period jumped 76% Y-O-Y. The CMBI data, however, showed that the BYD sales increase more than doubled, outperforming Tesla.

It might be interesting to see the results of the similar Wedbush survey in the US, where the Tesla brand net favorability has dropped significantly over the past year, according to Morning Consult.

We will find out more next week, when Tesla reports its 4Q22 earnings on Jan 25, whether strong buyer sentiment translates into higher sales.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!


Comments

Post a Comment

Popular posts from this blog

TESLA INC. (NASDAQ:TSLA): A robotaxi war may be brewing in China

Image
Tesla cleared their first hurdles in China after the company received FSD approval from the Chinese government. Beware though, just days after Elon Musk confirmed Tesla's intent to unveil their robotaxi in August, one of China's largest ride-hailing companies, Didi Chuxing, announced a joint venture with Chinese EV maker GAC Aion to mass produce its own Level 4 robotaxi, per IOT World Today. Didi acquired Uber China in 2016 and has more than 80 million active users in China. The downtrend of Tesla stock remains intact. TSLA needs to break above the key resistance level at $182.33 soon, or else the stock could pull back to below its 50-day EMA. This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!
Read more

BITCOIN (BTC/USD): Bitcoin stuck under trendline resistances at ~ 69k or the Nov'21 high

Image
Bitcoin is stuck under trendline resistances at ~ 69k, or the Nov'21 high. June's macro conditions could provide the next catalyst for bitcoin to make a breakout, per CoinDesk. Be aware, though, that a rejection from the trendline resistances could send bitcoin back down to retest the trendline support ~ 65k. This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!
Read more