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Well, it looks like the 2-day momentum has come to an end for $TSLA. It hit $271 PM and then nothing but dips since then. It's still early but the tape doesn't look too promising.
$TSLA 275 level is also yearly value area high so would expect some stalling here at least maybe build a flag for next leg up into November
$Tsla teased us. It was up premarket, but now it’s down when the market opens. https://t.co/O5aOP1d7OL
Tesla Inc. ($TSLA) experienced volatility in its stock price on October 28, 2024, with premarket gains giving way to declines once the market opened. The stock initially rose but faced downward pressure, with reports indicating a peak of $271 during the trading session. Analysts noted that the stock's performance at the $275 level could indicate potential stalling, suggesting it might build a flag pattern for a possible upward movement in November. Additionally, the Chinese government announced plans to increase its purchases of electric vehicles (EVs) to support the industry, which includes companies like Tesla, NIO, and XPeng ($NIO, $XPEV). Notably, Tesla's ghost orders were reported at $268.18, indicating a close alignment with market expectations.