Solid News

Tesla Raises the Stock

8/11/2022 4:27 PM

The shares of Tesla Inc., the world's leading manufacturer of electric cars, continue their global correction at 882.00.

At the moment, two key releases affect the further dynamics of the asset's quotes: the speech of the head of the corporation, Elon Musk, in court regarding the refusal to purchase Twitter Inc. in October and the upcoming 3:1 stock split. According to experts, in this situation, there are two options: either the court will oblige the businessman to acquire the company, or a large fine will be imposed for refusing the deal, for which Musk has already begun to prepare, having sold a large stake in Tesla Inc. worth 6.9B dollars.

The issuer's share split is scheduled for August 17, and it will provide a three-fold decrease in the current value of securities: shareholders will receive two additional shares for each they own after August 24, and they will begin trading at the new price from August 25. A split is usually a positive for an asset, attracting new investors by reducing the value.

The trading instrument is moving within the correctional downward channel, approaching the resistance line. Technical indicators maintain a stable buy signal: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO oscillator histogram is trading high in the buying zone.

Resistance levels: 931.00, 1138.00. | Support levels: 791.50, 626.00.

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