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.

Stay ahead of the market!

Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.

forex

Share CFD Trading with FXOpen

Share CFD Trading with FXOpen

Experience ECN technology for deep liquidity and light-speed trade execution

  • Trade with tight spreads
  • Take advantage of low commissions
  • Choose from 4 trading platforms: MT4, MT5, TradingView, or TickTrader
Learn more

Latest articles

 Euro in Focus – Markets on Alert
Forex Analysis

Euro in Focus – Markets on Alert

The euro is holding firm after a notable rally in recent weeks. Both the EUR/USD and EUR/JPY currency pairs are showing signs of consolidation, as markets cautiously assess the outlook against the backdrop of a packed economic calendar.

Nvidia Market Capitalisation Reaches $4 Trillion
Shares

Nvidia Market Capitalisation Reaches $4 Trillion

Yesterday, Nvidia’s (NVDA) share price surpassed $162 for the first time in history. As a result, the company’s market capitalisation briefly exceeded $4 trillion during intraday trading (according to CNBC), making Nvidia the first publicly listed company to

Bitcoin Price Eyes New All-Time High
Cryptocurrencies

Bitcoin Price Eyes New All-Time High

Yesterday, the price of Bitcoin rose by over 2%, surpassing its June high.

Several cryptocurrency platforms were quick to report that the BTC/USD pair had reached a new all-time high. Even if so, this morning’s slight pullback indicates

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.