In May of this year, sales of Tesla electric cars in China reached a record level. Tesla is steadily increasing sales of its electric vehicles in the Chinese market. According to available data, in May this year, Tesla sold 11,095 electric vehicles in the Celestial Empire, which is the company's highest sales figure in the world's largest automotive market. According to the China Passenger Car Association (CPCA), in April Tesla sold only 3,635 electric vehicles in the country. Thus, compared to April, the sales level in May jumped more than three times.
Our Analysis:
Provided that the asset is traded above 908.50, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 948.50
- Take Profit 1: 971.20
- Take Profit 2: 997.00
Alternative scenario:
In case of breakdown of the level 908.50, follow the recommendations below:
- The timeframe: H4
- Recommendation: short position
- Entry point: 908.50
- Take Profit 1: 868.30
- Take Profit 2: 853.50
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