Part 6/12:
Turning to stocks, the report notes that Tesla's share price has been respecting its 21-day exponential moving average following a strong rally. Technical analysis reveals a "cup with handle" formation with a target buy point of around $470.45. However, recent volatility—including volume-heavy dips—has somewhat flawed the handle's ideal shape.
Earlier, Tesla's Q2 results showed some softness: adjusted profits fell 23%, and revenue declined 12%. Despite this, Q3 delivered a recovery with record deliveries up 7.4% to nearly half a million vehicles, driven by renewed buying ahead of the EV tax credit expiration at the end of September. Tesla also hit a record deployment of energy storage—12.5 GWh during the quarter—doubling 2023's total and indicating strength in energy-related segments.