There is hope and watch out for Tesla! – Stock Recommendations

22Jul 24 The “Magnificent 7”: There is hope and watch out for Tesla! On the US market We are entering the most volatile period of the year and you only have to look at Friday’s …

Written by: Jack Williams

Published on: July 23, 2024

22Jul 24

The “Magnificent 7”: There is hope and watch out for Tesla!

On the US market We are entering the most volatile period of the year and you only have to look at Friday’s VIX bar to realize this.

Let’s say that almost all the Nasdaq 100 stocks have reduced their prices within a common pattern that sees for the weakest ones in terms of relative strength a flush with 3 consecutive very bearish bars that have broken the previous relative lows while for the strongest ones including fortunately AMAZON, META, NVIDIA, Intel and TESLA they saw the prices stop ABOVE the support of the previous low and not below.

For this reason I continue not to despair regarding the “Magnificent 7” as they call them. I’m just posting the image of TESLA which represents them all a bit (keep an eye on the data tomorrow):

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Jack Williams

Jack Williams established himself as the editor-in-chief of The Vermilion with rigorous journalistic traits and an incessant quest for truth. His career began as an investigative reporter, where he quickly gained a reputation for his in-depth research and insightful articles. Williams takes his role at The Vermilion very seriously. Since he became editor-in-chief, he has set an editorial line based on impartiality, factual accuracy, and context relevance; this has established The Vermilion as a reference for political, economic, and global news. Under his leadership, the media continues its mission of reporting news with accuracy and equanimity, giving a voice to those who are often overlooked by large-scale media. Jack dedicates himself to fulfilling this mandate with passion, rigour, and unwavering determination.