News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • 🇮🇹 Business Confidence (JUN) Actual: 114.8 Expected: 112 Previous: 110.9
  • 🇮🇹 Consumer Confidence (JUN) Actual: 115.1 Expected: 112 Previous: 110.6
  • Hang Seng Tech Index Attempts to Break key Resistance - #HSTECH chart
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.84%, while traders in GBP/JPY are at opposite extremes with 68.93%. See the summary chart below and full details and charts on DailyFX:
  • Heads Up:🇮🇹 Business Confidence (JUN) due at 08:00 GMT (15min) Expected: 112 Previous: 110.2
  • Heads Up:🇮🇹 Consumer Confidence (JUN) due at 08:00 GMT (15min) Expected: 112 Previous: 110.6
  • Heads Up:🇪🇺 European Council Meeting due at 08:00 GMT (15min)
  • - Will implement macroprudential measures to fight with inflation if needed
  • Turkish Finance Minister - Turkey to grow more than government forecast in 2021, expecting around 20% growth in Q2 - Central Bank stance on price stability is important
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
Tesla (TSLA): The Market Darling of Tech, ESG and Meme Themes

Tesla (TSLA): The Market Darling of Tech, ESG and Meme Themes

Izaac Brook, James Stanley,

Tesla (TSLA) Talking Points:

  • Tesla is commonly associated with Technoking (actual title at the company) Elon Musk.
  • The company has been at the forefront of Electronic vehicles and this has driven the stock price to extremely strong valuations.
  • The 2020/2021 market mania helped to drive Tesla as one of the most valuable companies on the planet despite the fact that they still have relatively minor market share in autos.

TSLA On talk of autonomous vehicle tech, no meme stock has been in focus longer than Tesla (TSLA). Some call it a cult stock rather than a meme stock (if there is a difference). Tesla stock has risen over 700% since January 2020. A 5 for 1 stock split in August 2020 helped keep the share price at a more accessible level while also reducing attention from Tesla’s absurd share price appreciation.


Tesla TSLA Price Chart

Chart created by Izaac Brook, Source: TradingView

CEO Elon Musk welcomes and encourages the memes surrounding his company, taking to Twitter to engage in banter, hype up Tesla, and share his bullish views on cryptocurrencies. The company’s recent investment in Bitcoin also appeals to retail traders – big time. Tesla announced solid earnings for Q1 2021. In fact, $101 million of the $438 million in net income the company reported came from its sale of some of the bitcoin holdings acquired earlier in the year. Tesla’s CFO said the sale was essential to prove bitcoin’s liquidity. Given Musk’s level of involvement and Tesla’s cult-like following, it is one of the world’s best performing meme stocks. And given Musk’s ability to produce the bulk of Tesla’s Q1 net profits from carbon credits and Bitcoin gains, he’s certainly given the internet a focal point for many of these recent market themes.

Our own Rich Dvorak touched on that most recent earnings release from Tesla, and the stock has remained on its back foot since the Monday announcement. After hitting a high around $750 on Monday the stock has now dropped down to $670 as of this writing, a fall of more than 10%.

There is, however, a case to be made for some continued bullish behavior, especially upon examination of bigger picture charts as price action remains above a longer-term bullish trendline. The early-year flare up to $900 illustrates the retail enthusiasm behind meme stocks very well; but as we’ll see in the coming pages that attention began to veer onto other stocks such as GameStop and AMC.

Tesla Daily Price Chart

Tesla TSLA Daily Price Chart

Chart created by James Stanley, Source: TradingView

Click Here to go to Meme Stock # 2

--- written by Izaac Brook, DailyFX Research Intern, James Stanley, Senior Strategist

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.