TSLA, Ford and General Motors Forecasts – US Automakers Trying to Turn Things Around on Wednesday

TSLA Technical Analysis

The market for Tesla looks like we are just simply hanging around a pretty significant support level. I think at this point, though, we are likely to see an attempt to go higher. The market is showing plenty of support right around the $3.80 level, with the $400 level offering a bit of a target. If the market were to break down from here, then the $365 level should be targeted. Ultimately, any bounce from here, I think, gets people jumping.

F Technical Analysis

The market for Ford looks like it is starting to turn things around and rally back towards the $15 level. We are hanging around the 50-day EMA, so that’ll be important to watch. If we continue to break down from here, the 200-day EMA is near the $13 level, which would be the next major support level. It’s also where we had a swing low previously that we launched from. It’ll be interesting to see how this plays out. I do think there’s some value here, and I’ll be watching to see if we can pick up some momentum.

GM Technical Analysis

General Motors looks like it is going to jump. We are in the midst of consolidation between roughly $78 and $85. We are bouncing from that $78 region. This makes sense for a bit of a short-term bounce play. Do I think it takes off forever? No, of course not. But I do realize that we’ve gone sideways after we shot higher. The 50-day EMA is coming into the picture, and the employment situation in the United States is good. So, I think all of this could have people looking to buy new vehicles.

General Motors, of course, just recently had a dividend. It’s got its earnings report in the latter half of July, so we’ve got about a month before we have to worry about that. We may just go sideways between now and then.

If you’d like to know more about technical analysis and how traders use it, please visit our educational area.