Here's Where Tesla May Find Support If The Stock Continues To Drive South
Portfolio Pulse from Melanie Schaffer
Tesla, Inc (NASDAQ:TSLA) is struggling to trade flat after dropping to a new 10-week low amid concerns of further rate hikes by the Federal Reserve. The EV giant has been in a downtrend since July 20, with lower lows indicating bearish control. If Tesla and other heavily weighted S&P 500 stocks continue to drop, market volatility is likely to increase. Traders can use MIAX’s SPIKES Volatility products, traded on SPIKES Volatility Index (XMIO: SPIKE), to play the potential volatility.
August 17, 2023 | 5:25 pm
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Tesla's stock is in a downtrend, indicating bearish control. If the trend continues, it could increase market volatility.
The article indicates that Tesla's stock has been in a downtrend since July 20, with lower lows indicating bearish control. This trend, if it continues, could increase market volatility, which would likely negatively impact the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Traders can use MIAX’s SPIKES Volatility products, traded on SPIKES Volatility Index (XMIO: SPIKE), to play the potential volatility in the stock market.
The article mentions that traders can use MIAX’s SPIKES Volatility products, traded on SPIKES Volatility Index (XMIO: SPIKE), to play the potential volatility in the stock market. This suggests that there could be increased interest in these products, but it's unclear how this would directly impact the price of SPIKE in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50