Tesla's Broken "Triangle" Warns of More Stock-Selling Pressure
EV giant's stock approaches wide chart zone with multiple bullish support points. Tesla Inc.'s stock has sliced through the bottom of a "triangle" consolidation chart pattern, and investors are worried about further weakness.But with the electric vehicle giant's stock already suffering its biggest two-day drop in two years following a disappointing earnings report, it has approached an important chart zone with multiple support points, that should at the very least slow the slide, if not stop it.The recent consolidation pattern in question is referred to as a symmetrical triangle, as a declining trendline defined the top of the pattern and a rising trendline traded out the bottom, with both trendlines following very similar angles toward a future meeting point.Consolidations shaped as symmetrical triangles are often viewed as continuation patterns, because more often than not they are resolved in the direction of the trend that preceded them. In Tesla's case, the stock has rocketed 91
Dear Tesla Stock Fans, Mark Your Calendars for Oct. 18
Tesla is gearing up to report Q3 earnings on Oct. 18.The company recently reported quarterly deliveries, which fell short of Q2.This suggests that TSLA stock will struggle as this key date approaches.Tesla is still recovering from a difficult month, but it may be about to get worse. The electric vehicle producer is gearing up to report earnings for the third quarter of 2023, and Wall Street isn’t optimistic. Not that it has much reason to be. TSLA stock has been fairly volatile over the past
Tesla Relaunches Rear-Wheel-Drive Model Y in the U.S. at Cheaper Price
Tesla quietly has relaunched a rear-wheel-drive version of its popular Model Y car in the U.S., and at a lower price.The new version of the electric-vehicle maker's best-selling car starts at $43,990, according to the company's website. It replaces the all-wheel-drive Model Y, which cost $3,750 more and was discontinued last month. The rear-wheel-drive version previously was discontinued in the U.S. in 2021 but has remained available in Europe and China.Tesla also updated its Model Y in China ea