The bullish sentiment from Tesla's earnings release inflated global market sentiment in Europe and dragged the DAX and other indices higher today. Mostly the German index started the session higher by 0.2%, FTSE 100 by 0.3%, and the French CAC by 0.1%. . In addition to Tesla, Meta, Microsoft and Alphabet are releasing results today. Elsewhere in Europe, Orange in France reflected a -2% decline due to falling sales. Roche showed a modest balance sheet reflecting a +1.7% rise.
What will Tesla (NASDAQ:TSLA) have that drags down the entire market even though its news is not particularly good in my particular opinion. Tesla gave notice in its premarket yesterday that they would accelerate their plans to make cheaper electric Models, to prevent competitors from taking that share of their core market, and it is also the debate of all automakers, who captures the most buyers. The Swedish manufacturer Volvo has reflected a fall of -7% in its share price, due to its bad quarterly result and losses reflected in its main market.
Today the IFO statistics institute will show us the business expectations for the month of April, expecting to show a timid improvement, although this will not prevent the ECB from making rate cuts as reported by President Lagarde.
If we look at the chart section, the theory previously indicated about Tesla, does not reflect reality at all, Tesla depreciating since December 2023 approximately -46%, but it is true that this bullish animosity has been reflected in the DAX clearly. If we look at the RSI, since 4am it has been oversold, so we can expect a cut that coincides with the price control point (POC) to approximately 17,805 points. Its current support zone is at 17,428.07 points.
Ion Jauregui - AT Analyst
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The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
What will Tesla (NASDAQ:TSLA) have that drags down the entire market even though its news is not particularly good in my particular opinion. Tesla gave notice in its premarket yesterday that they would accelerate their plans to make cheaper electric Models, to prevent competitors from taking that share of their core market, and it is also the debate of all automakers, who captures the most buyers. The Swedish manufacturer Volvo has reflected a fall of -7% in its share price, due to its bad quarterly result and losses reflected in its main market.
Today the IFO statistics institute will show us the business expectations for the month of April, expecting to show a timid improvement, although this will not prevent the ECB from making rate cuts as reported by President Lagarde.
If we look at the chart section, the theory previously indicated about Tesla, does not reflect reality at all, Tesla depreciating since December 2023 approximately -46%, but it is true that this bullish animosity has been reflected in the DAX clearly. If we look at the RSI, since 4am it has been oversold, so we can expect a cut that coincides with the price control point (POC) to approximately 17,805 points. Its current support zone is at 17,428.07 points.
Ion Jauregui - AT Analyst
*******************************************************************************************
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.