Technical Update - Tesla rebound could be cut short
Kim Cramer Larsson
Technical Analyst, Saxo Bank
Tesla broke bout of its falling channel in a correction that could take the share strong resistance area around 900. However, with cost and workforce cut announced Tesla is down 3% pre-market i.e. trading around 751 (blue dashed line).
If Tesla closes below yesterday’s low at 726 selling could intensify pushing the share price below key support at around 700.
RSI showing negative sentiment with no divergence indicating lower levels are quite likely.
Weekly chart shows that Tesla is in a falling trend trading in a quite wide declining range.
RSI showing negative sentiment and no divergence supporting the bearish outlook that could take the share price to test the support at around 540.
Quarterly Outlook Q2 2022
Quarterly Outlook Q2 2022: The End Game has arrived
- Shocks from covid and the war in Ukraine have forced the global financial and political world to change, but what will the end game be?
Energy crisis could turn energy stocks into secular winnerWith long-term expected returns for the global energy sector close to 10%, we look at 40 stocks that could be set to cash in.
The great EUR recovery and the difficulty of trading itIf the terrible fog of war hopefully lifts soon, the conditions are promising for the euro to reprice significantly higher.
Tight commodity markets – turbocharged by war and sanctionsWith supply already tight, commodities keep powering on. But will it last for yet another quarter?
Between a rock and a hard placeGeopolitical concerns will add upward price pressures and fears of slower growth, while volatility will remain elevated.
The Great ErosionInflation is everywhere and central banks try to combat it. But will they get it under control in time?
Australian investing: Six considerations amid triple Rs: rising rates, record inflation and likely recessionWhile global financial markets are struggling in an uncertain world, the commodity-heavy Australian ASX index is poised to keep a positive momentum.
Cybersecurity – the rush to catch up with realityWith the invasion of Ukraine, governments and private companies are rushing to reinforce their cyber defenses.