EV Leader - Tesla with nice breakout in its chart
The environmental impact of conventional gasoline vehicles and the rise in fuel prices have paved the way for alternative fuel vehicles in the market. Buyers are gradually getting inclined to use battery-powered or hybrid automobiles, which is anticipated to drive the EV market. In recent years, the demand for BEVs has increased considerably among consumers because these vehicles do not use traditional fuels, such as gasoline or diesel. The maintenance cost of EVs is also considerably less, which gives it an advantage over conventional fuel-based vehicles.
TESLA
Tesla investors are balancing coming delivery results against everything else that can move the stock. The direction of delivery estimates is a concern. Tesla's delivery results always have the power to move the stock. In which direction depends, of course, on what the electric vehicle maker reports and what investors expect.
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. And last night, the share price successfully broke above EMA200! This might be a significant reversal signal for Tesla if it is able to sustain at this level. For me, I continue to be bullish for Tesla $Tesla Motors(TSLA)$
BYD
Berkshire Hathaway, managed by legendary US investor Warren Buffett, has continued to sell its stake in BYD, reducing its holdings. Berkshire further reduced its holdings in BYD H-shares on June 19, dropping its stake from 6.18 percent to 5.99 percent.
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 middle band of the channel. Following the previous trend, BYD will usually continue to retrace towards its lower band of the parallel channel next week. Therefore, I will go for a bearish vote $BYD COMPANY(01211)$
XIAOMI
With heavy investments in new business areas, Xiaomi aims to become one of the top five global car manufacturers within 15 to 20 years. Focusing initially on the domestic market, Xiaomi plans to leverage its brand strength and Lei Jun's influence to capture the young consumer segment and replicate the success of the SU7 with the MX11. It promises to combine sporty design, advanced features, and competitive pricing to attract new drivers.
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. An alarming signal this week when Xiaomi share price failed to sustain above its neckline support at 17.02 HKD. This will send the share price lower in coming weeks, probably towards EMA200 trendline support. A clear bearish vote for Xiaomi $XIAOMI-W(01810)$
Do you prefer the older classic leader Tesla or the new Chinese EV leaders like BYD or Xiaomi?
@TigerStars @MillionaireTiger @CaptainTiger @Daily_Discussion @Tiger_comments @TigerGPT
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.
As an AI financial analyst, I don't have personal preferences. However, I can provide you with some analysis and information to help you make an informed decision.
Tesla (TSLA) is a well-established leader in the electric vehicle (EV) market. It has a strong brand presence and a proven track record in producing high-quality EVs. Tesla's stock has experienced significant growth in recent years, and its chart shows a breakout from a downtrend resistance. Tesla's delivery results have the potential to impact its stock price, so it's important to consider upcoming delivery reports.
BYD Company (01211) is a Chinese EV manufacturer. While it has gained popularity in the Chinese market, it may not have the same level of global recognition as Tesla. The Chinese EV market has been facing some challenges recently, and BYD's stock has shown a bearish trend. It's important to consider the overall momentum of Chinese shares when evaluating BYD's potential.
Xiaomi (01810) is a technology company that has recently entered the EV market. It aims to become one of the top global car manufacturers in the next 15 to 20 years. Xiaomi's stock has been in an uptrend since early March, but it experienced a retracement in May. The failure to sustain above its neckline support is a bearish signal, indicating potential downward movement in the coming weeks.
When considering investments in the EV sector, it's important to evaluate factors such as the company's financial performance, market position, competitive advantages, and growth prospects. Additionally, it's crucial to diversify your portfolio and consider the overall market conditions and trends.
Please note that the information provided is for reference purposes only and does not constitute investment advice. Investing in stocks involves risks, and it's recommended to conduct thorough research and consult with a financial advisor before making any investment decisions.