Trading Tesla in coming week from 4th Apr 2022

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Tesla seems to be ranging around the $1100 ceiling and is unable to break this ceiling.  What can we "expect" from the coming week.

Tesla News

Giga Texas goes "live" in days to come to join Giga Berlin as Tesla works towards an annual production capacity of 2 million units.  The current lockdown in Shanghai may cause some delay but eventually, Giga Shanghai's expansion will be completed.

Latest CNBC news:

The latest CNBC news about GM 2021 sales falling 20% YoY

GM’s U.S. sales fell 20.1% from a year ago, after supply-chain disruptions left dealers with thin inventories. Toyota faced similar challenges, but was able to squeeze GM for the U.S. sales crown again.

Technical prediction for Tesla for the coming days

Tesla 1D chart as of 2nd Apr 2022

From the 1D chart, Tesla looks to peak for stochastic and MACD will peak soon.  The reduced trading volume over the last few days suggests a peak could have been reached and the price should fall.
$TSLA has yet to break the $1100 ceiling and thus may retreat downwards to the next support region of $1000 in the coming days.  

Technical analysis from investing.com based on 1D charts of Tesla

The various technical & moving average indicators suggest a STRONG BUY for Tesla based on 1D chart. Now, let us look into the 1H chart to find our entry.

Tesla 1H chart as of 2nd Apr 2022

From the 1H chart, the Stochastic looks to peak soon though MACD has just bottomed up.  It is always possible for Stochastic to peak and range along the top (overbought region) as prices do climb upwards.  Given the dropped trading volume, it seems that the momentum may be running out and the bull may take a rest this coming week.    

Let us combine the findings from the 1D anchor chart and 1H entry chart.  Without any breaking news or macro events, I think that the price should drop in the coming days before we see a rally in lieu of the good news from Giga Texas.  Tesla's China production results will be out soon and this will drive stock movement, pending how the market receives the news.  In short term, the market is driven largely by the news but the value will be the main driving point in the long run.  In the long run, Tesla looks to be growing strongly towards its $2 trillion market cap.

<Note> Prior to this, I have written several articles about Tesla.  I have spent time researching the company before I invest.  Let us research before researching.  

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