Auto Frenzy:
Tesla exploded higher Monday after better than expected deliveries, but this name has been in an uptrend. But it set a lot of the space ablaze. Ford rose nearly 5% to achieve a 2 decade high and further distancing itself from the very round 20 number. International names like RACE above 260 sets up a double bottom pattern with a pivot of 268.52. TM is just 1% off all-time highs (peer HMC is 14% off its own annual peak). Hard to believe I am saying this but if NKLA continues to hold the very round 10 number with a bearish descending triangle it sports good risk/reward. Below 9 could be worthless. Below is the chart of TSLA and this name continues to excite market participants with good reason. It brushes off all the critic’s worries, the latest with recalls and competition fears. Peer RIVN is stalling at the upside gap fill from the 12/16 session hit on 12/27, a day it jumped more than 10%. Give it credit for holding the very round par number, but to me, TSLA still has the best technical look of the bunch (HOG looks like it could be ready to start building the right side of a WEEKLY cup base that started last April with a rebuttal at the very round 50 number.