TSLA Stock Price Reacts to Major Elon Musk News

FXOpen

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).

Buy and sell stocks of the world's biggest publicly-listed companies with CFDs on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Shares

Hong Kong-listed Chinese Insurer Goes on Rally as Western Giants Retract NFLX Stock Price Falls Despite Subscriber Growth UnitedHealth (UNH) Share Price Surges after Strong Report TSLA Analysis: Price Recovers after Disastrous Report High Hopes for Amazon as Analysts Look at Earnings Call Potential

Latest articles

Indices

Germany's DAX 40 Index Flying High Despite Pessimistic National Outlook

For a number of years now, there has been a lot of discourse over the current situation and the future of the German domestic economy.

From both inside Germany and globally, analysts, government officials, and corporate leaders have demonstrated a

Forex Analysis

Volatility in the Pound Is Rising, the Euro is Consolidating

GBP/USD

At the end of last week, the British currency fell sharply, testing a significant support level at 1.2300. The resumption of the downward trend for the pair became possible after some statements by British officials:

  • On Wednesday,
Commodities

The Price of Gold XAU/USD Shows Strongest Fall in Almost 2 Years

On Monday, the price of gold fell from USD 2,386 to USD 2,333 per ounce — this is the strongest drop in one day in almost 2 years, according to Bloomberg. On Tuesday morning in the Asian session, the

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% 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.