TSLA - Tesla: Sell Into Strength Signals (Technical Analysis Update)
2024-06-10 09:30:09 ET
Summary
- Tesla, Inc. faces competition, and Elon Musk's other interests may be taking priority.
- Technical signals indicate a bearish trend and underperformance compared to the index.
- Factors contributing to the downtrend include competition from Chinese cars, preference for hybrids, and a poor distributor network.
It is no secret that CEO Elon Musk has interests other than Tesla, Inc. (TSLA). He seems to like to use “X” to identify his new flames. Thus, we have “X formerly Twitter.” Then there is his latest hot interest, xAI. News reports claim that he diverted Nvidia chips from TSLA to X and xAI. We know he sold TSLA stock to fund the Twitter purchase. Now the board wants to give him $56 billion in stock options. Does this mean he will be able to sell more TSLA stock to fund his other interests?...
Tesla: Sell Into Strength Signals (Technical Analysis Update)