How will EV Leaders move next week?
Electric vehicles could make up as much as nearly half of global car sales by 2035, and our analysts forecast that more advanced autonomous or partially autonomous vehicles will make up the same share of sales just five years later. It's a fundamental shift, upending labor markets, supply chains, and commodity markets. Along the way, the car is being completely rethought and re-engineered, to incorporate cutting-edge battery chemistry, microchips, and software.
TESLA
Earlier this week, it was announced that Elon Musk is working on Tesla Master Plan 4, describing it as 'epic'. Musk has released three previous Master Plans, outlining goals like expanding the electric vehicle lineup and achieving true self-driving. Robots, flying cars, and autonomy? Whatever it is, it will be awesome because Tesla has the best engineers in the world working for them.
Tesla daily chart
Let's look at the Tesla chart shown above, just a long boring consolidation phase for the share price for the month of June. The good news was Tesla share price managed to breakout from its downtrend resistance last week. However, its share price is close to the EMA200, which acts as a strong incoming resistance for Tesla. For me, I continue to be bullish for $Tesla Motors(TSLA)$
BYD
Warren Buffett's Berkshire Hathaway has further cut its large stake in BYD, which vies with Tesla as the world's largest electric car (EV) maker, as global trade tensions escalate over Chinese EVs. It's the first major sale of BYD shares by Berkshire in ten months.
BYD daily chart
For BYD, the share price stays within the uptrend parallel channel as illustrated in the figure above. Now the share price is somewhere near to the upper band of the channel. BYD can either breakout from this channel or retrace back to mid or lower band next week. Personally, I will go for a bearish vote $BYD COMPANY(01211)$
XIAOMI
Xiaomi Motors has received more than 100,000 locked orders. Xiaomi has also delivered nearly 10,000 cars in June. The first electric car from Xiaomi has been successful. However, Xiaomi is already working on another model, possibly a hybrid version of the Xiaomi SU7. A company official has accidentally exposed the development through a screenshot containing the job description and requirements.
Xiaomi daily chart
Xiaomi has a stronger chart pattern if compared to Tesla and BYD. It is in an obvious uptrend since early March. However, starting from the month of May, Xiaomi began to retrace. Aligned with my prediction last weekend, Xiaomi rebounded perfectly at the neckline support at 17 HKD and engaged towards another round of rally. For such, I am bullish for $XIAOMI-W(01810)$
Do you prefer the older classic leader Tesla or the new Chinese EV leaders like BYD or Xiaomi?
@TigerStars @CaptainTiger @MillionaireTiger @Tiger_comments @TigerGPT
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I apologize, but I couldn't find any specific information regarding BYD Company (01211). However, I can provide you with a general analysis of the electric vehicle industry and the stock market trends.
The electric vehicle industry is experiencing significant growth and is expected to continue expanding in the coming years. Analysts forecast that electric vehicles could make up nearly half of global car sales by 2035, with advanced autonomous or partially autonomous vehicles following suit shortly after. This fundamental shift in the automotive industry has implications for labor markets, supply chains, and commodity markets.
Now, let's focus on Tesla Motors (TSLA). Tesla recently announced that Elon Musk is working on Tesla Master Plan 4, describing it as 'epic'. While the details of this plan are not yet known, Tesla's previous master plans have outlined goals such as expanding the electric vehicle lineup and achieving true self-driving capabilities. Tesla has a team of highly skilled engineers, which positions them well for future innovations.
In terms of Tesla's stock performance, the daily chart shows a consolidation phase in June, with the share price breaking out from its downtrend resistance last week. However, it is currently close to the EMA200, which may act as a resistance level. Based on the chart analysis, there is a possibility of a retracement back to the mid or lower band next week.
As for Xiaomi Motors (01810), they have received over 100,000 locked orders and delivered nearly 10,000 cars in June. Xiaomi's first electric car has been successful, and they are already working on another model, possibly a hybrid version of the Xiaomi SU7. The daily chart for Xiaomi shows a stronger pattern compared to Tesla and BYD, with an obvious uptrend since early March. In May, Xiaomi experienced a retracement but rebounded at the neckline support and engaged in another round of rally. Based on this analysis, there is a bullish sentiment for Xiaomi in the short term, with expectations that the uptrend momentum will continue next week.
In summary, the electric vehicle industry is poised for significant growth, and companies like Tesla and Xiaomi are at the forefront of this transformation. Tesla's stock may experience a retracement in the near term, while Xiaomi's stock shows a stronger uptrend pattern. However, please note that these observations are based on technical analysis and market trends, and they should not be considered as investment advice.
Disclaimer: The information provided above is for reference purposes only and does not constitute investment advice. Investing in stocks involves risks, and it is essential to conduct thorough research and consult with a financial advisor before making any investment decisions.
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