20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
- Tesla has announced a significant price increase for the Cybertruck, now starting at $60,990, which is a 50% hike from the initial 2019 estimate.
- The new pricing strategy for the Cybertruck, led to a 2% drop in Tesla shares.
- Despite the stock's fluctuations, Tesla has seen a significant upturn, with a 103% increase in 2023.
The Tesla Cybertruck has generated interest since its announcement. In a recent update, Tesla has made a substantial price adjustment for the Cybertruck, which is going to start at $60,990. This represents a 50% increase from the initial estimate provided in 2019.
This change in pricing strategy is expected to redefine the Cybertruck's market position, making it even more appealing to a wealthier clientele.
The Cybertruck's recent pricing update saw volatility in the stock price, causing Tesla shares to drop by 2% after the announcement.
With the new pricing structure, the starting price for the most affordable Cybertruck model is around $61,000, while higher-end models can go up to $99,990.
This strategic pricing adjustment demonstrates Tesla's commitment to finding the right balance between market demand, production costs, and brand positioning in the competitive electric vehicle industry.
Despite the stock price reaching a peak of $299 in July, it has failed to surpass the psychological resistance level of $300.
As a result, the price dropped and found support just above the significant $200 mark, specifically at the weekly 200 simple moving average.
Since then, Tesla's stock has been fluctuating between $200 and $300. This range-bound movement indicates that the stock is likely to stay within this range until it breaks through either the upper or lower boundaries.
Tesla has displayed resilience, with a 103% growth for 2023. This upward trend suggests a favorable outlook for further growth.
If the stock surpasses its peak from July 2023, it could create substantial prospects for investors. Given the dynamic electric vehicle market and Tesla's prominent position within it, there is significant potential to capitalize on buying opportunities in this situation.
After the closing bell on Thursday, November 30, the stock closed at $236.17, trading down by 0.75%.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!