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Cheaper cars? The market doesn't like Elon Musk's latest occurrence


Tuesday was the big day for Tesla. The automotive giant announced on its 'Battery Day' a new battery design claiming that it will make your cars cheaper to produce. In addition, Elon Musk expects vehicle deliveries to increase by 30-40% over last year,

The market does not seem to have liked the idea of ​​producing cheaper cars. In fact, has punished her with falls on the floor of more than 10%. Some falls that began yesterday even before the news was known.

Investors did not like Elon Musk's words leading up to the event. The CEO of Tesla explained that the improvements that were to be announced on 'Battery Day' will not reach "serious high volume production" until 2022. After these statements, their shares fell by 5.6%.

Some falls that the experts at ForexNews.online downplayed. "The verticality of the rises means that the market expectations are very high and at the slightest disappointment we will have the perfect excuse to correct / adjust proportionally part of the last increases ", explains José María Rodríguez, technical analyst of this medium.

"Technically there is not much to say about impeccably bullish value in all terms. A title that, in the short, has reacted clearly to the upside since MM50 ", concludes the expert.


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