Tesla
Tesla (TSLA) shares are up 2% today as the company plans to resume production in Germany after an electricity outage. The stock is struggling to maintain the $180 price level.
It’s important to note that despite today’s increase, TSLA is down 28% from its December highs due to fundamental issues related to the slowdown in demand for electric vehicles (EVs).
While news outlets are suggesting that now may be a good time to buy TSLA, the recent price increase is likely due to overselling in the short term.
Watch for a potential drop below $180, which could attract more sellers and lead to a price target of $150.
Bitcoin
Bitcoin is surging 15% today following news that the UK’s FCA is moving forward with plans to allow institutional investors to create crypto ETNs. This move, like recent developments in the US, signals growing acceptance of cryptocurrencies as mainstream securities, which could drive up demand for bitcoin.
This upward momentum, combined with impending “halving” in April, could see Bitcoin reach a price target of $100,000.
Meta
Similar to Nvidia, Meta is experiencing selling pressure from short-term traders taking profits. META shares have seen significant gains over the past year and are currently trading at their 20-day moving average of $486.
If META drops below $485, it could fall to $460 before potentially presenting a buying opportunity.
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About the Author
Chris Johnson (“CJ”), a seasoned equity and options analyst with nearly 30 years of experience, is celebrated for his quantitative expertise in quantifying investors’ sentiment to navigate Wall Street with a deeply rooted technical and contrarian trading style.
