Round Number Revving:
The automobile group has been driving in different directions. Some like F and GM are still stuck in neutral to be kind with both more than 30% off their most recent 52-week highs. Best in breed RACE is on a 4-week win streak up by more than 20% and all 4 weeks CLOSED at the top of the WEEKLY range. TM in my opinion still has 200 written all over it into year-end and continues to drive circles around regional peer HMC (TM is now 5% off its annual peak while HMC is 16% off its own). HTZ could have zero in its future now trading in single digits and sporting a bear flag. Below is the chart of TSLA and round number theory has certainly played a role with this name as seen on its WEEKLY chart at 100 with a bullish hammer to start 2023, bearish reversals at 300 and 400 this summer, and the end of 2021. The 200 area was an area of significance with a bullish hammer to start a strong November. It is now sporting another bull flag here as leaders will offer add-on buy points on the way UP. Thursday is a big day with the Cyber Truck event.