TSLA Stock Price Reacts to Major Elon Musk News

Twitter owner Elon Musk said that Linda Yaccarino, who until recently headed advertising at NBCUniversal (her team earned about USD 100 billion), will become the new director of the social network.

Here are the points that Musk made in an interview with CNBC:

→ Twitter is a very advertising dependent business and Linda is incredibly strong at it. I will continue to be involved in the development of new features and product content, with Linda managing. Everyone should use their strengths.

→ Now I have more time to work on Tesla. The company is busy developing two new cars.

→ Tesla is the only company in the industry where a car can achieve full autonomy. This technology will appear this year and will allow owners of electric vehicles to rent them to a fleet of robotic taxis.

The price of TSLA shares reacted positively to the news of the change in Elon's activities, setting a high in May, but then the emotions subsided and the price fell.

The chart shows that TSLA stock price:

→ is experiencing resistance from the bearish gap area (shown in red).

→ is getting support from the bullish gap area (shown in green) which is about 50% of the A→B rally.

Thus, there is a certain balance of supply and demand in the stock market, however, given the presence of a global and local downtrend in 2022-2023 (shown by blue channels), one should estimate the probability of a decrease in the price of TSLA shares to the median line (shown as number 1).

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