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Will the Robotaxi Event Rocket Tesla Stock over $300?
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The automotive world will be watching as Tesla (TSLA - Free Report) unveils its Robotaxi. The futuristic autonomous taxicab is supposed to shatter expectations. Tesla is ahead of the rest of the pack in this arena as it has millions and millions of miles of data already. Not just drivers, but the data of its autonomous software packages it has been upgrading for years.
Full-self driving sounds like science fiction, but it is closer than you think. Tomorrow, Thursday, October 10th at 10pm Eastern there’s a broadcast coming. You can check that broadcast out here. Elon is calling it the “We, Robot” event. Grab your popcorn because it’s going to be an exciting one.
Ahead of that event, I wanted to take a quick look at the chart here. Well off the all-time highs of course, the stock has come under pressure as of late. The $250 level has proved to be very difficult to push through. However, it does look like the bulls are beginning to gain some ground as the chart enters a new phase here with a series of higher lows coming in, helping to change the trend.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding Tesla’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.
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Will the Robotaxi Event Rocket Tesla Stock over $300?
The automotive world will be watching as Tesla (TSLA - Free Report) unveils its Robotaxi. The futuristic autonomous taxicab is supposed to shatter expectations. Tesla is ahead of the rest of the pack in this arena as it has millions and millions of miles of data already. Not just drivers, but the data of its autonomous software packages it has been upgrading for years.
Full-self driving sounds like science fiction, but it is closer than you think. Tomorrow, Thursday, October 10th at 10pm Eastern there’s a broadcast coming. You can check that broadcast out here. Elon is calling it the “We, Robot” event. Grab your popcorn because it’s going to be an exciting one.
Ahead of that event, I wanted to take a quick look at the chart here. Well off the all-time highs of course, the stock has come under pressure as of late. The $250 level has proved to be very difficult to push through. However, it does look like the bulls are beginning to gain some ground as the chart enters a new phase here with a series of higher lows coming in, helping to change the trend.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding Tesla’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.