Tesla Charges Higher, Regains Key Indicator As Support: This ETF Offers 150% Leverage To Play Upside, Downside
Portfolio Pulse from Melanie Schaffer
Tesla, Inc (TSLA) saw its stock rise over 4% on reports that India may cut taxes on EV imports, potentially encouraging Tesla to enter the Indian market and build a manufacturing facility. The stock regained the 200-day SMA, a key technical indicator, suggesting a possible new bull cycle. Direxion Daily Tesla Bull 1.5X Shares (TSLL) offers 150% leverage to play Tesla's upside, while Direxion Daily Tesla Bear 1X Shares (TSLS) offers inverse tracking for bearish bets.
November 13, 2023 | 5:59 pm
News sentiment analysis
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POSITIVE IMPACT
Tesla's stock rose following reports of potential EV tax cuts in India, which could lead to Tesla's expansion in the Indian market. The stock's move above the 200-day SMA may indicate a bullish trend.
The news of potential tax cuts in India is significant for Tesla's expansion plans and could lead to increased sales and market presence. The technical indicator of the 200-day SMA is also a strong signal for market sentiment, potentially leading to a short-term bullish impact on the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
TSLL, which offers 150% leverage on Tesla's performance, could see increased interest from bullish traders due to Tesla's positive momentum and technical indicators.
TSLL is directly tied to Tesla's performance, and with Tesla's stock showing positive movement, this ETF is likely to attract traders looking to capitalize on Tesla's momentum with leveraged exposure.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
TSLS, which inversely tracks Tesla's performance, may see decreased interest or increased hedging activity if traders are bearish on Tesla's short-term prospects.
TSLS provides a way for traders to bet against Tesla's stock. However, given the current positive news and technical indicators for Tesla, demand for this ETF may decrease unless traders anticipate a short-term reversal.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80