The EV industry is on the rise, but it's not without its challenges. Here are some of the biggest threats:
* High Cost: Electric vehicles are typically more expensive than gasoline-powered cars due to the high cost of battery technology. These batteries require expensive materials and complex manufacturing processes.
* Charging Infrastructure: There just aren't enough charging stations yet, especially fast-charging stations for long trips. This can cause "range anxiety" for potential EV buyers, who worry about running out of power before they can find a place to recharge.
* Grid Capacity: The electrical grid in many places may not be able to handle the increased demand from a large number of EVs. Upgrading the grid will be a costly and time-consuming endeavor.
* Raw Material Dependence: The batteries in EVs rely on certain raw materials, like lithium, cobalt, and nickel. A shortage of these materials or geopolitical instability in the regions where they are mined could disrupt the EV supply chain.
* Cybersecurity: As EVs become more connected to the internet, they become more vulnerable to hacking. This could pose a risk to both the safety and security of EV drivers.
$Tesla Motors(TSLA)$ earnings are coming soon and the market sold it down. sentiment is pretty bad because of the price cuts and poor outlook. looking at its pnf, its next support is at 108. looking at the candlestick chart, yesterday was the 7th consecutive lower closing price. regardless of earnings, the probability of a technical rebound is high. tsla bulls have the ability to push prices back up to 243.
$iShares Self-Driving EV and Tech ETF(IDRV)$ tracks the ev industry. its pnf shows weakness. now it is at support zone. hopefully the ev leader tsla will lead the industry back to life with some good news.
the ev industry is badly affected by high interest rates. $US2Y(US2Y.BOND)$ is the indicator for interest rate direction. it is sensitive to news related to fed hikes or cuts. it is pushing above 5%.
do apply automatic investment system where you add shares at each 10% drop or at support zones if you know technical analysis. this way you conserve your capital while the stock is strongly downtrending. do take profit at 10% intervals or at resistance zones if you know technical analysis. this way you have capital to buy the dip. only applies to stocks in an index or warren buffett would approve. bon courage.
merci@TigerStars @TigerWire @koolgal @Asphen
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