TSLA, GM and F Forecast – US Automakers Looking to Rally on Wednesday

Tesla (TSLA) Technical Analysis

Tesla is likely to rise right away; it is up a bit in pre-market trading, so we will have to wait and see how this plays out. It does look like it is going to try to stick to the range that it has been in for some time between $420 and $460.

We have an earnings call later in the session after hours, so that obviously will cause massive amounts of volatility. Do keep that in mind, but as long as they come close to hitting their numbers, we probably stay within the range.

General Motors Technical Analysis

General Motors had an earnings call, which was a surprise to the upside in the earnings part. The revenue was a little bit down, so I think this is somewhat of a mixed result. It is slightly down in pre-market trading, but quite frankly, we broke out yesterday and it looks pretty stout to me. I think any pullback at this point in time will almost certainly attract the attention of those who look to pick up a little bit of value at this point in time.

Ford Technical Analysis

Ford looks like it is just a touch soft, but when you look at the overall market over the last several months, it is grinding higher and I think that is more of the same just waiting to happen.

We do have earnings call, but it is not until February 10, so we have got a little bit of time before that. It certainly looks as if Ford is ready to go higher over the longer term, so I think short-term pullbacks continue to be potential buying opportunities in this market as the 50-day EMA and the $13 level both could be offering a bit of a short-term floor.