- Summary:
- Tesla share price just got good regulatory news, Nio is still sending mixed signals, while Lloyds share price still has bullish undercurrent.
Table of Contents
With markets digesting the implications of a new administration in the US, and the UK’s car finance scandal still in play, we look at what these mean for Tesla, Nio and Lloyds share prices.
Tesla
Tesla share price has been on a rollercoaster ride since Donald Trump won the 2024 US presidential elections. The momentum seems far from over, as the stock just bumped up by 6.4 percent in the pre-market session on Monday to retest the $340 mark. This recovers a significant portion of the losses incurred recently following a successive three-day decline.
While Elon Musk’s closeness with Trump has contributed to the uptick in Tesla’s market performance, the company’s Q3 earnings forecast beat and upbeat guidance for 2025 offer have built a strong case for the upside.
However, some analysts opine that Tesla (NASDAQ: TSLA) will soon have to back its $1 trillion valuation with sales numbers. That said, Trump’s presidency could also result in speedy regulatory approvals for Tesla’s driverless cars. Bloomberg reported that the new administration plans to develop a Federal framework for autonomous driving.
Such a framework is critical for the industry, as it could bypass the current hurdles created by state regulations, which differ from state to state. Also, it could help offset the pressure on Tesla to deliver exuberant sales figures in the near-term.
Tesla share price prediction
Pivot: TSLA price is likely to pivot at $336.50
Resistance: The first resistance is likely to be at $343.00. A stronger momentum could break above it to test $347.10.
Support: The first support is likely to be at $331.90. A break below this level will invalidate the upside narrative. A second support could come at $328.20.
Nio
Nio share price has had a torrid run in recent weeks, with its monthly returns at -20.3 percent as of this writing. A break below the psychological mark at $5.00 underlines the Chinese EV maker’s struggles. Worse still, China’s much-publicised economic stimulus package had nothing worthwhile for the EV industry.
Nio’s decline is further exacerbated by Tesla’s upsurge following Donald Trump’s presidential election victory. That has seen investors seeking a share of the EV market in their portfolio opting for the American company. That said, Nio (NYSE: NIO) launched Onvo L60, its cheapest model yet, in late September, and its first full monthly sales numbers signaled good potential.
The company will announce its quarterly earnings on Wednesday, November 20, and that could provide fresh impetus for the stock. Nio share price was up by 1.7 percent in the premarket session on Monday, signaling investor confidence around the earnings call.
Nio share price prediction
Pivot: Nio share price pivots at $4.65
Resistance: With the buyers in control, the price will likely meet initial resistance at $4.75. A break above that level could test the next barrier at $4.80.
Support: Moving below $4.65 will put the sellers in control, with the first support likely to be at $4.55. A break below that level will invalidate the upside narrative, with the second support likely to be at $4.50.
Lloyds
Lloyds Bank share price gained 3.45 percent in the last five sessions, building a strong traction for an uptrend. As of this writing, the stock touched a three-week high price of GBX 57.08, affirming the upside view. With back-to-back quarterly earnings forecast beat and year-to-date gains of 16 percent, Lloyds Bank (LSE: LLOY) is primed for a strong finish to the year.
On the downside, Lloyds Bank faces the increasing likelihood that it could pay hundreds of millions of pounds in compensation claims as tens of thousands of its Black Horse customers continue to seek refunds.
The UK Court of Appeal ruled against a long-held practice of entering into hidden commission deals with car financiers. Some estimates show that the compensation claims could snowball into a £16 billion bill for UK’s lenders.
Lloyds Bank share price prediction
Pivot: LLOY pivots at 56.34
Support: The first support is likely to be at GBX 55.70. An extended bearishness could take the price lower to test GBX 55.00.
Resistance: Action above GBX 56.34 will put the buyers in control. The first resistance will likely be at GBX 57.34. A stronger bullish momentum could break above that level and invalidate the downside narrative. With that, the second resistance could come at GBX 57.88.
