EV Leaders πππ - Charts Review
As we all know, Joe Biden this month introduced new tariffs, a tax charged on foreign imports on an array of Chinese goods, including EVs, in an effort to support US manufacturing. The White House has maintained a number of tariffs introduced during Donald Trumpβs presidency, while ratcheting up others, including quadrupling EV duties to more than 100%.
Tesla
Last week, Tesla broke ground on a 200 million USD factory in Shanghai to make its Megapack energy storage batteries. The plant in Shanghai's Lingang pilot free trade zone will be the first Tesla battery plant outside the U.S. and marks another major investment in the Asian country after the company's Gigafactory Shanghai. Tesla's Shanghai Megafactory is slated to begin mass production in early 2025, with an initial capacity of 10,000 Megapack units a year.
Tesla daily chart
Tesla stock underwent consolidation for the past 2 weeks. However, the good thing is that the share price stays above its uptrend line (highlighted in Orange) since early May. As long as the uptrend remains valid, I am bullish for $Tesla Motors(TSLA)$
BYD
Cheap electric vehicles from China are already pushing into Europe, undercutting one of the region's biggest industries.
The Chinese manufacturer, BYD announced plans last month to bring its Seagull hatchback to Europe next year. The car offers premium features like a rotating touch screen and wireless phone charging and sells for less than 10,000 USD in China. Even after tariffs and modifications to meet European standards, BYD executives expect to sell the Seagull for less than 21,500 USD on the continent.
BYD daily chart
For BYD, thing went complicated now as the share price broke below its EMA200 critical support line. Moreover, as highlighted in the orange circle, both EMA10 and EMA25 began to cross down EMA200. To make the analysis easier, I am bearish for $BYD COMPANY(01211)$
Xiaomi
Xiaomi recently announced that it will aim to deliver 120,000 electric vehicles this year, up from the initial goal of 100,000, and will implement double-shift production to meet rising demand for its EVs. Moreover, Xiaomi's global smartphone shipments rose 33% to 40.7 million units in the first quarter. The global smartphone market has shown signs of a recovery since late last year after a prolonged period of sluggishness.
Xiaomi daily chart
Amazing rally from Xiaomi since early March 2024. Recently, Xiaomi share price pullbacked after hitting recent high at around 20 HKD. Personally, I think nothing much to worry and I believe 17.22 HKD will be a very safe and strong support for Xiaomi. As long as it stays above this critical neckline support, I am bullish for the company stock price $XIAOMI-W(01810)$
Which EV leaders do you like and admire the most? For me, Tesla is my all time favourite. Guys, come and join the discussion ya.
@MillionaireTiger @CaptainTiger @Tiger_comments @TigerStars @TigerGPT @Daily_Discussion
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Tesla Motors (TSLA)
Business and Industry: Tesla is a leading electric vehicle (EV) manufacturer and clean energy company. The company designs, manufactures, and sells electric vehicles, energy storage products, and solar energy products. The EV industry is expected to grow rapidly in the coming years as governments and consumers shift towards sustainable transportation solutions.
Latest Earnings and Forecast: Tesla's latest earnings report showed an EPS of $0.37 for Q1 2024, with a gross profit margin of 17.35%. The company has a positive earnings forecast, with estimated EPS of $2.53 for FY 2024. This indicates expected growth in the company's profitability.
Recent Trends: Tesla's stock price has undergone consolidation in the past two weeks but remains above its uptrend line since early May. This indicates a bullish trend in the short term. The stock's support price is at $170.4, and the resistance price is at $174.9.
Analyst Viewpoints: Analysts have provided a target price range for Tesla, with a mean estimate of $178.97, a low estimate of $22.86, and a high estimate of $320.0. The analyst recommendation for the stock is a mix of buy, hold, and underperform ratings.
Capital Flow Analysis: Tesla has experienced positive capital flow in the past five days, indicating investor interest in the stock. However, there have been both inflows and outflows of varying magnitudes.
BYD COMPANY (01211)
Business and Industry: BYD COMPANY is a Chinese manufacturer of automobiles, rechargeable batteries, and photovoltaic products. The company is a major player in the EV market and has a diverse product portfolio. The EV industry in China is expected to grow significantly in the coming years, presenting opportunities for BYD.
Latest Earnings and Forecast: BYD COMPANY reported an EPS of $1.57 for Q1 2024, with a gross profit margin of 21.88%. The company has a positive earnings forecast, with estimated EPS of $11.89 for FY 2024. This indicates expected growth in profitability.
Recent Trends: BYD COMPANY's stock price has a support price of HKD 200.0 and a resistance price of HKD 212.0. The stock has shown an upward trend, indicating a bullish sentiment.
Analyst Viewpoints: Analysts have provided a target price range for BYD COMPANY, with a mean estimate of HKD 296.92, a low estimate of HKD 160.0, and a high estimate of HKD 562.6. The analyst recommendation for the stock is mostly positive, with buy and hold ratings.
Capital Flow Analysis: BYD COMPANY has experienced both inflows and outflows of varying magnitudes in the past five days, indicating mixed investor sentiment.
Xiaomi Corp. (01810)
Business and Industry: Xiaomi Corp. is a Chinese multinational electronics company that designs, develops, and sells smartphones, consumer electronics, and other related products. The company has recently entered the EV market and aims to deliver a significant number of electric vehicles this year. The smartphone market has shown signs of recovery, which could positively impact Xiaomi's business.
Latest Earnings and Forecast: Xiaomi Corp. reported an EPS of $0.17 for Q1 2024, with a gross profit margin of 22.29%. The company has a positive earnings forecast, with estimated EPS of $0.68 for FY 2024. This indicates expected growth in profitability.
Recent Trends: Xiaomi Corp.'s stock price has experienced a pullback after reaching a recent high. The stock has a strong support level at HKD 17.22, which indicates a bullish sentiment as long as it stays above this level.
Analyst Viewpoints: Analysts have provided a target price range for Xiaomi Corp., with a mean estimate of HKD 21.87, a low estimate of HKD 14.0, and a high estimate of HKD 31.24. The analyst recommendation for the stock is a mix of buy, hold, and underperform ratings.
Capital Flow Analysis: Xiaomi Corp. has experienced both inflows and outflows of varying magnitudes in the past five days, indicating mixed investor sentiment.
Please note that the above analysis is based on available data and should not be considered as investment advice. It is important to conduct thorough research and analysis before making any investment decisions.