Both NIO And Xpeng Join Tesla With Losses And Lowered Deliveries

The Nasdaq index has been undergoing a strong correction due to the increase in US bond yields stemming from fears of a possible increase in inflation. This drags the technology sector down, with one of the main victims being Tesla (TSLA). But is this the only cause of the sector’s sharp falls?

Although it is true that inflation fears have been an important catalyst for these declines, the earnings results coming out of this sector have not been satisfactory. On January 27, Tesla presented its results, where we saw its earnings per share come in below the market consensus.

After these results, Tesla has suffered a sharp decline in the markets after reaching its all-time highs at the end of last January, losing more than $300 per share, until it lost the 61.8% Fibonacci level in search of its moving average of 200 sessions.

(Click on image to enlarge)

Source: Tesla daily chart from Admiral Markets MetaTrader 5 platform from November 14, 2019 to March 9, 2021. Taken on March 9 at 12:50 CET. Note: Past performance is not a reliable indicator of future results, or future performance.

 Price evolution of the last 5 years:

  • 2020: 743.40%
  • 2019: 25.71%
  • 2018: 6.89%
  • 2017: 45.69%
  • 2016: -10.96%

Despite the good prospects at the beginning of the year, NIO (NIO) recently announced results which, like Tesla, showed mixed results with earnings per share lower than expected by the market consensus, which has led it to suffer in sharp declines over the past few weeks. In addition, it also announced a slight reduction in the forecast of vehicle deliveries for the first quarter of the year, which increased the falls in the short term, and not only led it to lose three levels of support but has also led to it seeing its 200 session average.

(Click on image to enlarge)

Source: Daily chart of the NIO of the Admiral Markets MetaTrader 5 platform from December 6, 2019 to March 9, 2021. Realized: March 9 at 1:00 p.m. CET. Note: Past performance is not a reliable indicator of future results, or future performance.

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