Tesla cars may become cheaper. What about its stocks?
Tesla Inc's CEO, Elon Musk, announced plans to start the production of Tesla cars at their plant in Germany. The cost of the final product should be around 25,000 EUR.
For the issuer, this is a significant event as the high price of Tesla cars has been one of the company's issues since its inception. Tesla could never compete in the budget segment with other car manufacturers. Should Musk's plan succeed, the company will gain new opportunities for revenue increase.
Therefore, it is an excellent moment to look at the Tesla Inc (NASDAQ: TSLA) stock chart.
On the D1 timeframe, support has formed at 194.67, with resistance at 222.05. Quotes consolidated above the crucial corrective level of 210.41, which may indicate further growth in share prices.
On the H1 timeframe, if there is a rebound from the 222.05 level and the upward trend continues, the short-term target for the price increase can be 234.38. In the medium term, the target for a price increase could hover around 257.31.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
For the issuer, this is a significant event as the high price of Tesla cars has been one of the company's issues since its inception. Tesla could never compete in the budget segment with other car manufacturers. Should Musk's plan succeed, the company will gain new opportunities for revenue increase.
Therefore, it is an excellent moment to look at the Tesla Inc (NASDAQ: TSLA) stock chart.
On the D1 timeframe, support has formed at 194.67, with resistance at 222.05. Quotes consolidated above the crucial corrective level of 210.41, which may indicate further growth in share prices.
On the H1 timeframe, if there is a rebound from the 222.05 level and the upward trend continues, the short-term target for the price increase can be 234.38. In the medium term, the target for a price increase could hover around 257.31.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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