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Market Outlook
Tesla lifted as Fed saddens the market. - Zeal Capital Market

Tesla lifted as Fed saddens the market.

28-07-2022 03:22

“Less hawkish Fed spooked out market participants, policy tightening may end sooner than later.”

Tesla share price rebounds from low level as market participants were disappointed by latest signal delivered by Federal Reserve. Last night, Fed Chair Jerome Powell commented that “another unusually large” rate hike may be appropriate. Nonetheless, he emphasized that such measure will be “data dependent” and the central bank will not provide any forward guidance upon it. His latest signal suggests that US interest rate is inching towards the neutral level, which may potentially minimize negative impact from recent policy tightening upon the economy.

Quick recap on TSLA

In a bigger perspective, Tesla share price is subjected to bearish descending wedge.

TSLA Weekly Technical Analysis

Tesla lifted as Fed saddens the market. - Zeal Capital Market

Tesla breaks free from previous minor sideways trend, indicating possible bullish swing in the near-term.

TSLA Daily Technical Analysis

Tesla lifted as Fed saddens the market. - Zeal Capital Market

Its share price has recently rebounded from 770.30, prepping TSLA for a possible bullish extension.

Trading Idea

Tesla lifted as Fed saddens the market. - Zeal Capital Market

ORDER: BUY STOP

ENTRY: 872

STOP LOSS:

Target 1: 930

Target 2: 970

ZFX Analyst’s Comment

Tesla share price has recently rebounded from low level, with slight pickup in bullish momentum expected. In the near-term, we expect its price to extend bullishness after closing above the threshold of 863.25.

Risk Warning: The above content is for reference only, and does not represent ZFX’s position. ZFX does not assume any form of loss caused by any trading operations carried out in accordance with this article. Please be firm in your thinking and do the corresponding risk control.

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