Kings 👑 of EV - Charts Study
A normal week for EV sector as most of the stocks consolidated and pullbacked for the past few days. In this article, we are going to look into the leaders in EV sector, that's Tesla and BYD. At the end of this article, I will add in one more new company analysis for my supportive readers who scroll till the end haha!
TESLA
Tesla is facing increased competition in China from the likes of BYD, which offers a broad range of vehicles including the popular budget Seagull hatchback, and new entrants such as tech giant Xiaomi, which has received more than 70k orders for its SU7. The US automaker slashed prices again across its range late last month to help boost sales. In a bid to revive his company's fortunes in China, Tesla chief executive officer Elon Musk made a surprise visit to Beijing in late April, receiving in-principle approval from government officials to deploy its driver-assistance system in the country.
Tesla daily chart
For Tesla, a bit disappointed with its move last week, as the share gapped up strongly after Elon's visit to China but now all the gained was erased. The share price seems to turn bearish again now. Well, I still push for the last defence at its neckline support at 160.19 USD. Tesla should and must rebound after touching this level next week, else the trend will be destroyed again and the share price will plunge further. 160.19 USD is really a strong support and I believe $Tesla Motors(TSLA)$
BYD
The success of BYD also shows that the competitiveness of Chinese electric vehicles in the world market today is a result of multiple factors rather than the Chinese government subsidies, as some Western China-bashing politicians allege. Also the rise of the Chinese EV sector benefits not only the world's green transition but also global investors, including those from the United States.
BYD daily chart
For BYD, the share price seems to be stable down after breaking out from its EMA200 trendline resistance. Next week, we should see EMA25 gold crosses over EMA200 as well. All the indicators show that the share price is bullish $BYD COMPANY(01211)$
XIAOMI
As a bonus for today's topic, I would like to add in Xiaomi. Xiaomi officially launched the SU7, its first EV model, on March 28, offering standard, Pro, and Max versions, with starting prices of RMB 215,900, RMB 245,900, and RMB 299,900, respectively.
Xiaomi SU7 production capacity is being expanded at full swing to accelerate deliveries and to ensure that the target of 100,000 units delivered this year is met.
Xiaomi daily chart
For Xiaomi, it has the strongest share price among the 3 stocks shared today. A clear uptrend with all the EMA facing upwards, one above each other. Moreover, we can see that the share price goes up slowly following the EMA10, which is an extreme bullish sign for the stock. If a pullback happens, 17.22 USD will be a great support level to take note. Anyway, with all the bullish signs, I believe$XIAOMI-W(01810)$
Which Kings of EV do you like? As compared to Nvidia related stocks, do you like Tesla related stocks more? Share us your favourite theme of investment ya.
@MillionaireTiger @CaptainTiger @Tiger_comments @TigerGPT @Daily_Discussion @TigerStars
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Tesla Motors (TSLA) Analysis:
Business and Industry Overview:Tesla is a leading electric vehicle (EV) manufacturer and clean energy company. The EV sector has been experiencing significant growth due to increasing environmental concerns and government initiatives to promote sustainable transportation. Tesla has established itself as a pioneer in the EV industry, with a strong brand presence and innovative technology.
Earnings Analysis:
Tesla's earnings forecast for FY2024 indicates an estimated EPS of $2.53, gross income of $98.88 billion, and EBIT of $8.52 billion.
In Q1 2024, Tesla reported an EPS of $0.37, a gross profit margin of 17.35%, and a net profit margin of 5.30%.
The company's financial ratios, such as return on equity (ROE) and return on assets (ROA), are relatively modest but improving.
Trend Analysis:
Tesla's stock price on May 11, 2024, is $168.47, below the support level of $170.4.
The stock has experienced a recent pullback and is currently facing bearish momentum.
Capital flow data shows mixed sentiment, with both inflows and outflows observed in the past five days.
Analyst Viewpoints:
Analysts have provided a target price range for Tesla, with a mean estimate of $179.72, a low estimate of $22.86, and a high estimate of $320.0.
The analyst recommendation for Tesla includes 7 "recommend," 13 "buy," 21 "hold," 6 "underperform," and 4 "sell" ratings.
News Viewpoints:
Tesla faces increased competition in China from companies like BYD and Xiaomi.
The company has slashed prices to boost sales and received approval to deploy its driver-assistance system in China.
Elon Musk's surprise visit to Beijing aimed to revive Tesla's fortunes in the Chinese market.
Boyd Gaming (BYD) Analysis:
Business and Industry Overview:Boyd Gaming is a leading gaming and hospitality company, primarily operating in the United States. The company owns and operates numerous casinos and resorts, catering to both local and destination customers. The gaming industry is influenced by factors such as consumer spending, tourism, and regulatory policies.
Earnings Analysis:
Boyd Gaming's earnings forecast for FY2024 indicates an estimated EPS of $6.05, gross income of $3.72 billion, and EBIT of $910.08 million.
In Q1 2024, Boyd Gaming reported an EPS of $1.40, a gross profit margin of 61.45%, and a net profit margin of 14.21%.
The company's financial ratios, such as ROE and ROA, indicate healthy profitability and efficiency.
Trend Analysis:
Boyd Gaming's stock price on May 11, 2024, is $53.9, slightly above the support level of $53.28.
The stock has experienced a recent uptrend, with support from the moving averages.
Capital flow data shows mixed sentiment, with both inflows and outflows observed in the past five days.
Analyst Viewpoints:
Analysts have provided a target price range for Boyd Gaming, with a mean estimate of $70.58, a low estimate of $65.0, and a high estimate of $78.0.
The analyst recommendation for Boyd Gaming includes 1 "recommend," 4 "buy," and 10 "hold" ratings.
News Viewpoints:
No specific news related to Boyd Gaming was mentioned in the provided information.
Investment Recommendation:Both Tesla and Boyd Gaming operate in different industries and have unique investment characteristics. It is important to consider your investment goals, risk tolerance, and portfolio diversification when making investment decisions.
Tesla: Despite recent price consolidation and competition in the EV sector, Tesla remains a key player with a strong brand and innovative technology. However, the stock currently faces bearish momentum, and the support level has not been sustained. Investors should closely monitor the stock's performance and wait for a more favorable entry point before considering an investment.
Boyd Gaming: The stock has shown an uptrend and is currently trading above the support level. Analysts have provided a positive target price range, indicating potential upside. However, further research into the gaming industry and the company's specific growth prospects is recommended before making an investment decision.
Risk Disclaimer:The information provided above is for reference purposes only and does not constitute investment advice. Investing in stocks involves risks, including the potential loss of principal. It is essential to conduct thorough research, consider your financial situation, and consult with a professional financial advisor before making any investment decisions.