TSLA Stock: Report Pending

FXOpen


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.

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.

Latest articles

Weekly Market Wrap With Gary Thomson: Nasdaq, EUR/USD, USD/CHF, Brent Crude Oil, Googl Shares
Financial Market News

Weekly Market Wrap With Gary Thomson: Nasdaq, EUR/USD, USD/CHF, Brent Crude Oil, Googl Shares

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.

  • Nasdaq Composite: Worst Session
Forex Analysis

Analysis of AUD/USD: Exchange Rate Falls to Early May Low

As indicated by the 4-hour AUD/USD chart today:

→ the rate fell below 0.652, a level last seen on May 2;

→ the RSI indicator dropped below 15, a level last seen during the panic over the spread of COVID-19

Shares

Analysis of AMZN Stock: Price at 1.5-Month Low

As shown in the AMZN chart, the stock price dropped below:

→ the psychological level of $180;

→ the mid-June interim low.

The last time AMZN traded below $180 was in early June.

Thus, AMZN has faced sell-offs, similar to other tech

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.