Tesla Readies For A Big Move In One Direction: The Bull, Bear Case For The Tech Giant
Portfolio Pulse from Melanie Schaffer
Tesla, Inc (NASDAQ:TSLA) is currently trading in a consolidation pattern, with a triple inside bar pattern indicating a potential continuation move in the direction of the current trend. The stock has been trading sideways ahead of big-tech earnings week, with Advanced Micro Devices, Inc, Apple, Inc, and Amazon.com, Inc set to report. Tesla's moves lower are seen as a sign of bulls taking profits rather than bears regaining control. If Tesla confirms a new downtrend, it could increase volatility in the stock market, which could be traded using MIAX's SPIKES Volatility products.
August 04, 2023 | 9:46 am
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NEUTRAL IMPACT
If Tesla confirms a new downtrend, it could increase volatility in the stock market, which could be traded using MIAX's SPIKES Volatility products.
If Tesla confirms a new downtrend, it could increase volatility in the stock market. This volatility could be traded using MIAX's SPIKES Volatility products, which track expected volatility in the SPDR S&P 500 over the next 30 days.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Tesla's stock is in a consolidation pattern, which could lead to a significant move in the direction of the current trend. The upcoming big-tech earnings week could influence this direction.
Tesla's stock is currently in a consolidation pattern, which typically precedes a significant move in the direction of the current trend. The upcoming big-tech earnings week, which includes reports from Advanced Micro Devices, Apple, and Amazon, could influence this direction. If Tesla confirms a new downtrend, it could increase volatility in the stock market.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100