April 4, 2022, 3:38 pm EDT
When Elon Musk spoke or acted, many people listed and reacted. There is no doubt that the richest person in the world has influential power over many people including his fans or investors.
His 9% ownership of Twitter (TWTR) boosted its stock price with +27% gains today. His own company Tesla Motor (TSLA) also added another +5.5% to 1143. Indeed, Electric Vehicle and alternative energy look promising when higher energy cost keeps rising without the end.
Although we did not participate TSLA for its rally, we are still looking for a list of alternative energy solutions: RUN, BLDP, NOVA, BE, CSIQ, ENPH, GNRC, SEDG which are up 4-10% today.
Both TSLA and TWTR are strong stocks but they are also volatile so anyone interesting in these technology stocks needs to be aware of their fast movement.
However, overall volume in the stock markets is very low so markets are still waiting for certain triggering events to release its volume. At this moment, we consider the market is still in overbought condition with a pullback process taking place.
We keep watching the development of the Russian war and China’s economy which would be the driving force for the market’s next move, in our opinion.