$Tesla Motors(TSLA)$
First, the charts. We’re cruising above the moving averages, and the MA50 and MA200 lines are flirting with each other, ready for a "golden cross" rendezvous. If the MA50 crosses above the MA200, that’s like a kopitiam uncle declaring "shiok ah!" – very bullish. But, we’ve got to play the waiting game until they actually meet.
Next up, the options market. Lots of put contracts at $230 are acting like our trusty kopi stall always got good coffee, providing solid support for Tesla. This support proved its mettle on Friday when the stock dipped and bounced back like a champion. Meanwhile, call options at $250 and $270 are like that auntie scolding us to keep our excitement in check – acting as resistance. The put:call ratio is 0.88, hinting that we’re slightly bullish on Tesla, just like how we feel about hawker centre chicken rice.
Now, our favourite topic: Elon Musk. He’s been waging war on shorts, and the stock price has been climbing like a young Ah Beng on a mission. But hold your horses – Tesla is delaying the robotaxi launch, giving shorts and bears something to grumble about. Expect Tesla to dance around the current range, with a ceiling of $270, but $250 might play hard-to-get before we reach there.
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