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Tesla shares decline again: China suspects Tesla electric cars of espionage!

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2021 is a pretty chaotic year for Tesla. At the very beginning of the year, the value of the shares grew and eventually rose to $883 apiece, but then a drop followed and now they are quoted at $654 apiece. In recent weeks, Tesla shares have been hit by a lot of negative information. It all started with the fact that Elon Musk decided to invest $1.5 billion through Tesla, which immediately caused a huge amount of criticism in his address. Then, there were problems with a whole series of electric cars, already sold to their owners, which had to be recalled for repairs. Next, Volkswagen announced its intention to push Tesla from the first place in sales of electric cars. And now in China, Tesla cars are suspected of espionage. The fact is that Tesla electric cars are packed with cameras, which, in theory, should be used to facilitate driving a car. However, this still means that they are shooting everything that is around them. Accordingly, if the Tesla car turns out to be on some secret object, then it continues to shoot everything around it. Of course, we are not talking only about secret objects, which are not so easy to get into. But even if we just talk about the competitor's factory, the competitor may not like it. However, according to some media reports, it was the Chinese military that suspected the Tesla cars that they not only allow the driver to see their surroundings through the monitor, but also transmit the captured information (or certain data) to the United States. But at the same time, many experts immediately noted a strange feature: the claims of the Chinese side almost mirror the claims of the US government to the Chinese company Huawei. Thus, it is possible that these are just retaliatory, mirror measures, and Tesla is the most convenient tool for implementing hidden sanctions. In view of these reports, Tesla shares sank another 4.4% and generally began a new round of downward movement. The head of the company, Elon Musk, also commented on the claims and suspicions of China, saying that if Tesla uses cars for espionage, he will close the company on the same day.

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As for the technical picture, Apple shares have resumed falling in the last week. Recall that many experts have long predicted the stock market "Black Monday," believing that the shares of many companies are overvalued, as well as many stock indexes. Apple's stock prices continue to be below the Ichimoku cloud, so it's too early to talk about changing the trend to an upward one. At the auction on Friday, the quotes fell to $ 624 apiece and worked out the Kijun-sen line, which the bears failed to overcome. If there is a rebound (and so far everything looks like this), then the upward movement may resume. But the fundamental backdrop of recent weeks may continue to put pressure on the company's shares. In the case of a new round of upward movement, the price may rise to the first target - the Senkou Span B line ($709). It is recommended to buy Tesla shares with a target of $709 and a Stop Loss level below $628.

The material has been provided by InstaForex Company - www.instaforex.com