Submitted 3 days ago by remington@beehaw.org to technology@beehaw.org
https://gizmodo.com/tesla-stock-price-reaches-death-cross-status-2000589799
Imho most important quote:
But I have to be honest, as someone who is not fully immersed in the financial markets, the chart pattern reading kinda strikes me as astrology for guys in suits. Like, because the line displays a pendant shape, that means it’s primed to break out? What does that even mean?
No it’s Pennant. Like the sportsball trophy.
Ok, but it’s a quote.
Used prices are apparently tanking too because the used market is suddenly flooded by teslas. Saw a biker the other day knock on a tesla window at a light and give the driver the finger haha
Lowest since November 2024. Still not good but it’s still mostly just wiping out what he gained when Trump took over
Lowest it was in 2025 was on March 10th and it’s been slowly creeping back up since then.
When Trump tweeted it’s a good time to invest, a lot of people assumed it would be a pro Tesla move. Tesla went up 23% in a day.
By coincidence it recently bottomed out at exactlyv that same level as just before the Trump election.
Then we had last week’s 26.7% bump for the not quite accurate tariff 90 day suspension.
It dropped a little when Trump said not all tariffs will be suspended (most will stay at 10%) and now has stayed steady ever since.
This article is stupid.
Tesla has seen more than a third of its value wiped off the board since the start of the year
We can do better. Let’s tank this shit.
It’s still up 55% vs one year ago. Yeah it’s fallen from its post-election run up, but frankly it just looks like it’s gone back to pre-election value and trend.
Nothing in that article even explained what a “death cross” is
Second paragraph?
Tesla is just the latest to see the symbol of bearishness, which occurs when a company’s 50-day moving average crosses and drops below the 200-day average.
As an example,
Basically it is a “technical analysis” thing. Which basically means divination based on the “shapes the stonk line make and other line you draw on stonk too”.
Death cross scary shape when stonk line cross other line you draw
Biggest issue I’ve seen with technical analysis like this is that it’s more a measure of market sentiment, not fundamentals. You’re using the crowd as an indicator without any idea of whether the crowd knows anything you don’t or not.
So it’s a little more meaningful than dowsing rods and tarot cards, but only barely. Market sentiment can change on a whim.
I found a definition.
The “death cross” market chart pattern refers to the drop of a short-term moving average—meaning the average of recent closing prices for a stock, stock index, commodity, or cryptocurrency over a set period of time—below a longer-term moving average. The most closely watched stock-market moving averages are the 50-day and the 200-day.
Investopedia is a great resource for things like this: www.investopedia.com/terms/d/deathcross.asp
Musk’s tears sustain me.
Tesla is far from alone in flashing the “death cross.” The S&P 500 and Nasdaq 100 both showed it as well on Monday, as the indexes continue to fluctuate in wild and somewhat unpredictable ways thanks to the endless uncertainty that the Trump administration has introduced to the market through its blanket tariffs and “will they, won’t they” exceptions that keep getting tacked on and taken off.
An individual stock hitting this point doesn’t really seem like that big a deal when whole indexes are getting there.
SnotFlickerman@lemmy.blahaj.zone 3 days ago
Still $100 above what it was a year ago, this is more bullshit wishcasting.
jarfil@beehaw.org 3 days ago
Tesla is going to fall hard for a very simple combination of reason:
Considering the Elon an oppressor or not, has nothing to do with it. Personally, I’m saddened by the fate of SpaceX engineers once the Elon loses the virtual backing that those fantasy TSLA shares are giving him.
SnotFlickerman@lemmy.blahaj.zone 3 days ago
Okay, sure, that’s all valid, but that means nothing when it comes to endless articles wishcasting about the current price. I’ve seen these articles for almost two months now, when Tesla hit its lowest point in 2025 on March 10th. Sure, this could be a dead cat bounce, but until it actually starts crashing, it isn’t anything other than wishcasting.
I’ll give a damn when it drops lower than its lowest point in 2023 at $113.
TeamAssimilation@infosec.pub 3 days ago
I’ve always suspected these are attempts at stock manipulation. Release scary news, make the stock go down, buy, stock rebounds quickly as the scaremongering dissipates, sell.
The most mentally-challenged businessmen love pump and dump (and the reverse on this case) because it doesn’t require any talent whatsoever, just insider trading.
teawrecks@sopuli.xyz 2 days ago
It is a fact that there is a pattern termed a “death cross”, and it is a fact that Tesla exhibits it.
It is also stated clearly in the article that, in the opinion of the author,
And according to Reuters,
Imagine reading an article before making inflammatory statements about it in 2025.