TESLA INC. (NASDAQ:TSLA): Tesla bulls shrugged off another round of price slashing on some Model 3 cars in the U.S.

 


Tesla stock ran up 1.84% on Friday, to close at $180.14, despite that the company is offering discounts of more than $1,300 on some Model 3 cars in its U.S. inventory, following even heavier discounts in Europe, per Reuters. The U.S. Model 3 rear-wheel drive will now cost as low as $37k+ after the federal tax credit. The deep discounts came on the heels of leaks that Tesla may launch the new redesigned Model 3, code name Highland, in Q4 this year.

Tesla stock has gained bullish momentum since its May 16 annual shareholder's meeting and is now approaching an area of resistances near the $182.33 level. The stock could pull back to $165.80 or break out to retest its 200-day EMA at ~ $198.40. It could all depend on the May sales of China-made Tesla EVs, which are due in about two weeks.

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