Tesla in a free fall - Analysis - 22-11-2022
Tesla's stock (TSLA) tumbled in the intraday levels and closed at two-year lows amid concerns about renewed Covid 19 restrictions in China, which would hurt demand on cars, while the company announced a series of large recalls in the US for issues with taillights.
The stock thus tumbled 6.84% in the last session, or 12.32 points, settling at 167.87, with trading volumes surpassing 92.8 million shares, below 10-day averages of 98.6 million shares.
Technically, the stock breached the pivotal support of 177.63, with negative signals from the RSI, amid the dominance of the downward trend in the medium and short terms, with negative pressure from the 50-day SMA.
Therefore we expect the stock to decline and target the support of 141.80, provided it settles below 177.63.
Expected trend for today: Bearish
Midday update for the NZDUSD 22-11-2022
The NZDUSD pair provided clear positive trades to move away from 0.6100 level, noticing that stochastic reaches the overbought areas now, waiting to motivate the price to resume the expected bearish trend for today, which depends on the price stability below 0.6185, reminding you that we need to break 0.6100 to confirm rallying towards 0.5990 as a next main target.
The expected trading range for today is between 0.6050 support and 0.6160 resistance
The expected trend for today: Bearish
Midday update for the AUDUSD 22-11-2022
The AUDUSD pair shows positive trades to test the key resistance 0.6650, accompanied by stochastic loss to the positive momentum clearly, waiting to motivate the price to resume the expected bearish trend for today, which conditions holding below the mentioned resistance, reminding you that our next main target is located at 0.6540.
The expected trading range for today is between 0.6540 support and 0.6670 resistance
The expected trend for today: Bearish
Midday update for Brent oil 22-11-2022
Brent oil price fluctuates within sideways track since morning, affected by stochastic negativity that hinders the mission to rise, and as long as the price is above 86.10, the bullish trend scenario will remain valid for today, which its targets at 91.35 and extend to 93.73.
The expected trading range for today is between 86.70 support and 90.50 resistance.
The expected trend for today: Bullish