Tesla’s test of the 200-day moving average ended in failure! The bulls were ultimately let down…
1. Tesla $TSLA
Whether Tesla can take off next depends on whether it can break above 400! Its earnings were fairly solid, but the real highlight was Musk’s earnings call. SpaceX rose first yesterday, and then Musk made more big promises on the call, sending the stock surging to +13%. But Tesla’s earnings call had little to get excited about, and it failed to repeat that script. In the short term, it’s pulling back after failing to break above the 200-day moving average. The death cross is still in effect, and the long-term trend has not reversed.
Historical seasonality is also worth watching: Tesla has tended to make stronger moves in the fourth quarter over the past two years. If this time around, that coincides with an earnings catalyst and a technical breakout, that could be significant. At tonight’s open, watch whether Tesla can hold 373.
2. SpaceX $SPCX
There’s likely still more upside ahead for SpaceX, and the key is whether it can hold 150! The stock is currently showing relative strength. 150 is the dividing line between bulls and bears: if it holds, the outlook remains bullish, with 170 as the next key target.
The year-end rally is definitely something to look forward to!
1. Tesla $TSLA
Whether Tesla can take off next depends on whether it can break above 400! Its earnings were fairly solid, but the real highlight was Musk’s earnings call. SpaceX rose first yesterday, and then Musk made more big promises on the call, sending the stock surging to +13%. But Tesla’s earnings call had little to get excited about, and it failed to repeat that script. In the short term, it’s pulling back after failing to break above the 200-day moving average. The death cross is still in effect, and the long-term trend has not reversed.
Historical seasonality is also worth watching: Tesla has tended to make stronger moves in the fourth quarter over the past two years. If this time around, that coincides with an earnings catalyst and a technical breakout, that could be significant. At tonight’s open, watch whether Tesla can hold 373.
2. SpaceX $SPCX
There’s likely still more upside ahead for SpaceX, and the key is whether it can hold 150! The stock is currently showing relative strength. 150 is the dividing line between bulls and bears: if it holds, the outlook remains bullish, with 170 as the next key target.
The year-end rally is definitely something to look forward to!
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