Tesla Motors Inc. (NASDAQ:TSLA) and Toyota Motor Corp. have indeed treated each other as rivals in the auto manufacturing industry for decades now.
Tesla Motors is renowned as the pioneer in making electric vehicles, as Toyota is also taking this niche and doing the best of what it can to mimic Tesla's ways by also creating their own electric variants.
Elon Musk, the CEO of Tesla has announced to the public that there is yet more to come in the upcoming year. Tesla is also one of the first words that come to mind when we hear about "energy storage".
With the release of the upcoming Model 3, sales are expected to skyrocket because of the budget-friendly price that it will have when compared to other variants. In the meantime, Toyota is undergoing a series of problems because of the recently recalled 3 million vehicles that have airbag issues.
It is also experiencing a currently undervalued stocks in the auto industry as a result of its fewer trading activities in the stock market. The Country Caller takes a deeper look into the technical perspectives regarding the rivalry trends of the two giant car manufacturers.
Tesla is in a neutral state as its pre-market trading activities are doing very well. The RSI in the last 14 days is 52.85, indicating the dominant nature that it has for the next few sessions.
The oscillators also forecast that the bulls will continue this trend in the long run. However, the Average Directional Index forecasts a weaker trend with the power indicator.
The major price level of Tesla Motors is $219.56 that may possibly lead to $222.34 and $227.65. But it is also seen to possibly plummet down to levels of $211.72 and $206.41. Tesla Motors will remain in its bullish state for the next few days to come.
Toyota Motor Corp. is approaching the sold out state in the region, making it an interesting point of entry for the bulls. The RSI for the last 14 days is 49.31, making it a neutral sign for the company.
However, the oscillators and Stochastic RSI suggests conditions that are oversold. The bull/bear indicators show the little power that the bulls have, matching the suggested weak trend of the Average Directional Index.
See Now: OnePlus 6: How Different Will It Be From OnePlus 5?
