TSLA Stock: Report Pending


Already tomorrow, investors will learn about the results of Tesla's activities for the Q2, expectations are positive. TSLA share price rises on the news that the company has started production of the Cybertruck model. Up to 10,000 Cybertrucks could be produced this year, according to Barron's. Also positive is the information that Tesla can increase production at the factory in Berlin to 1 million cars a year.

In the meantime, an interesting survey among investors was conducted by Bloomberg; according to its results:

  • 54% of respondents consider competition as the main risk for TSLA for the next 2 years. Competition is being tightened by incentives and exemptions for the production of electric vehicles from governments.
  • For 26% of respondents, the behavior and decisions of Elon Musk are a problem.
  • 67% think Musk needs to focus more on EV production.
  • 67% believe Twitter's value will never be worth the money Musk paid for it.

The TSLA chart shows that the share price is growing within an ascending channel — the week that began was marked by reaching a maximum since the beginning of the year. Resistance to the growth of the TSLA stock price can be provided by:

  • psychological level USD 300;
  • top of last summer around USD 313;
  • upper border of the channel shown in blue.

If the report does not disappoint and Musk's words find a positive response among investors, the price of TSLA stock may receive enough bullish momentum to successfully attack the listed resistance levels.

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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.

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