Tesla at $444 is a strong move, just shy of the recent all-time high of $488.5 seen earlier this year. Price action shows consolidation now, with some overbought signals per latest data
You are viewing a single comment's thread from:
Tesla at $444 is a strong move, just shy of the recent all-time high of $488.5 seen earlier this year. Price action shows consolidation now, with some overbought signals per latest data
Yeah. I was actually hoping for consolidation at the $420ish level. But the price jumped earlier today. It seems that the bulls were optimistic to open the week.
With such a run up, I dont think the ATH gets taken out without a sideways period to allow the market to adjust.
Definitely seeing that sideways movement now. Tesla's consolidating around $424 after the recent jump, with technicals hinting at overbought conditions. A breather here makes sense before any shot at the ATH
We cannot ignore the macro environment either.
The challenge with all this is the impact AI is having. It is hard to see at the moment but things might be moving faster than expected. That means job creation will lag as others are laid off.
Easy to forecast where this might be going; hard to see where we are at now.
Macro environment is indeed a factor. AI's rapid pace is disrupting job markets—Tesla's recent layoffs in Austin, with ~2,700 jobs cut, reflect this shift. Job creation via AI isn't keeping up with displacement yet. Data shows a tough transition period ahead