2021-04-08 • Updated
Morgan Stanley, a huge investment bank, has warned investors about a “risk” not having Tesla stock. It means that those people who don’t have Tesla shares will regret it as Musk’s company will continue increasing its value.
The key reason is Biden’s infrastructure plan, which is positive for Tesla. The US President intends to fight climate change and make the USA carbon-free by 2050. He will spend $174 billion to develop the US electric-vehicle ecosystem, where Tesla is the top performer.
“Auto investors face greater risk not owning Tesla shares in their portfolio than owning Tesla shares in their portfolio.”
However, Morgan Stanley cautioned that Tesla’s way up won’t be easy and fast. Indeed, this year the carmaker is down about 5%, which is not so bad actually. It can be viewed as a great opportunity for investors to buy Tesla at a lower price. In comparison, Tesla rose 743% last year. So, there is a high chance Tesla will catch up. By the way, last week, Musk’s company has published better-than-expected car deliveries even despite the global chip shortage.
Morgan Stanley set a price target for Tesla at $880. According to Bloomberg, the average analysts’ target is $651, with 17 buy recommendations, 13 holds, and 12 sells.
Tesla has formed the ascending triangle pattern. The ascending triangle pattern shows that bulls are getting stronger. As a result, its slope goes up. If the price manages to break the high of April 5 at $708.00, the way up further to the next round number of $750.00 will be open. In the opposite scenario, the move below the low of March 31 at $640.00 will drive Tesla down to the lower trend line at $600.00.
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Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Bearish Scenario: Sales below 78.99 with TP1: 77.93, TP2: 77.45, and upon its breakout TP3: 76.56 and TP4: 75.70 Bullish Scenario: Purchases above 78.00 (wait for a pullback to this area) with TP1: 1679.00 (uncovered POC*), TP2: 79.33, and TP3: 79.66 intraday
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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