Chance to collect Tesla before another spike?
Recently, the electric vehicle (EV) industry has experienced notable growth, with global EV sales rising due to increased consumer interest and supportive government policies. Automakers are unveiling new models that offer improved range and advanced technology, while innovations in battery technology are making EVs more efficient and affordable. Additionally, the expansion of charging infrastructure is further facilitating the shift towards electric mobility. These developments collectively contribute to the industry's rapid evolution and growing market presence.
TESLA
Recently, Tesla has been in the spotlight for several key reasons: the company reported strong quarterly earnings with increased revenue and profit, driven by high demand for its vehicles and expansion into new markets. Tesla also announced advancements in its autonomous driving technology and plans for new model releases. Additionally, the stock has experienced volatility due to market reactions to these updates and broader economic factors.
Tesla daily chart
Let's look at the Tesla chart shown above, following a disappointing earnings results, Tesla share price pullbacked significantly this week towards its EMA50 then EMA200 support, which should act as a very strong support. For me, as long as Tesla can stay firm above 200 USD, I remain my bullish view on Tesla $Tesla Motors(TSLA)$
BYD
BYD unveiled new EV models and reported expansion into new international markets. Additionally, BYD has announced significant investments in battery technology and production capacity to support future growth. These factors have contributed to positive movement in BYD's stock and heightened investor interest.
BYD daily chart
For BYD, since 2024, the share price stays within the uptrend parallel channel as illustrated in the figure above. However, end of this week, BYD share price broke below this uptrend channel which was an alarming sign 🛑. This might represent the beginning of a trend reversal for BYD. Bearish vote for it $BYD COMPANY(01211)$
XIAOMI
Xiaomi SU7 has experienced strong sales performance. The SUV has gained popularity due to its competitive pricing, advanced features, and solid performance. Sales figures indicate a positive market reception, with significant interest from both domestic and international customers.
Xiaomi daily chart
After a massive rally since March 2024, Xiaomi experienced a bearish movement after May 2024. The pullback was beyond my prediction until it headed towards EMA200 support recently. The good news is Xiaomi share price seems to find its short term bottom at around 16 HKD. A hard prediction for Xiaomi as the share price is moving inside its descending triangle pattern. Although the downtrend is clear and obvious for Xiaomi, but I tend to give it a bullish vote next week as the share price is pretty close to EMA200 critical support now, a technical rebound should be expected here. Definitely not a good price to short here, therefore a bullish vote for Xiaomi $XIAOMI-W(01810)$
Do you prefer the older classic leader Tesla or the new Chinese EV leaders like BYD or Xiaomi?
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As an AI financial analyst, I can provide you with some insights, but please note that investing in stocks involves risks, and it is important to conduct thorough research and consider your own investment goals and risk tolerance before making any investment decisions.
Regarding Tesla, it is one of the pioneers in the electric vehicle industry and has established itself as a leader in the market. Tesla has a strong brand presence, innovative technology, and a global customer base. The company has been experiencing strong demand for its vehicles and has been expanding into new markets.
However, it is important to note that Tesla's stock price can be volatile, and it has experienced significant fluctuations in the past. The stock price is influenced by various factors, including market sentiment, investor expectations, and broader economic conditions. Therefore, it is difficult to predict with certainty when another spike in Tesla's stock price may occur.
As for the Chinese EV leaders like BYD and Xiaomi, they have also gained attention in the EV industry. BYD is one of the largest electric vehicle manufacturers in China and has a diverse product portfolio, including electric buses, cars, and trucks. Xiaomi, on the other hand, is primarily known for its consumer electronics but has recently entered the EV market with its SU7 SUV.
Both BYD and Xiaomi have the potential for growth in the EV market, considering the increasing demand for electric vehicles in China and globally. However, it is important to conduct a thorough analysis of these companies, including their financial performance, competitive advantages, and growth prospects, before making any investment decisions.
In summary, while the electric vehicle industry is experiencing notable growth, investing in individual stocks like Tesla, BYD, or Xiaomi carries risks. It is important to carefully evaluate the companies and consider your own investment goals and risk tolerance. Diversification and consulting with a financial advisor are also recommended to mitigate risks.