Tesla's Robotaxi Revolution: Is it Too Late to Buy the Stock?

Robotaxi is a word that once was the exclusive to the world of science fiction. As it turns out, Demolition Man is about to manifest itself in reality. Elon Musk revealed that Tesla (
TSLA
) is going to begin deploying self-driving taxi cabs to the streets of the US. It's only a matter of time before transportation as a whole is drastically changed forever. The democratization of getting from point A to point B. Henry Ford is blushing somewhere.
Of course, I understand that Elon isn't everybody's favorite anymore. Political motivations have created diverging feelings amongst us. For those that know me, at this point you realize that I couldn't care less about politics. In my opinion, it's theatre, sensationalized to evoke your emotions and get you to click and share articles. Here, I want to look at the inner workings of Tesla's chart and try to figure out where the next moves might run into trouble.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding Tesla's stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.
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It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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