Please check out my blog post for a full breakdown:
derzzycharts.com/blog-1/battery-cars-are-charged-up
Electric vehicles… the future right? Who cares?! We’re here to profitably trade stocks. Today we have TSLA, NKLA, and NIO compared with each other on the daily. The gains in these stocks have been massive. I would call these high beta, but I feel like they even exceed that definition. The other thing that blows me away is the correlation between them. We may have spotted a small lag that could be signalling a pullback in TSLA. Let’s check it out!
It’s like they take turns breaking out, then breaking down. First NKLA broke resistance and went ripping, then NIO, then TSLA. Then just like clock work, we see the breakdowns. First NKLA, then NIO, then… well actually TSLA has not experienced a pullback yet. Will it? Well that is the question.
Happy Trading!
Brandon Anderson
brandon@derzzycharts.com
derzzycharts
derzzycharts.com
derzzycharts.com/blog-1/battery-cars-are-charged-up
Electric vehicles… the future right? Who cares?! We’re here to profitably trade stocks. Today we have TSLA, NKLA, and NIO compared with each other on the daily. The gains in these stocks have been massive. I would call these high beta, but I feel like they even exceed that definition. The other thing that blows me away is the correlation between them. We may have spotted a small lag that could be signalling a pullback in TSLA. Let’s check it out!
It’s like they take turns breaking out, then breaking down. First NKLA broke resistance and went ripping, then NIO, then TSLA. Then just like clock work, we see the breakdowns. First NKLA, then NIO, then… well actually TSLA has not experienced a pullback yet. Will it? Well that is the question.
Happy Trading!
Brandon Anderson
brandon@derzzycharts.com
derzzycharts
derzzycharts.com
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.