Ferrari and Tesla Move Away from Copper: $4.1 Billion Deal Points to Substitute Metal
📊 TSLA — Piyasa Yorumu
▼ down · 65%TSLA closed with a 3.96% decline, bringing its RSI to 37, approaching oversold territory. The MACD line remains below the signal line and in negative territory, indicating weak short-term momentum. The stock is trading below its 20-day SMA (413.12) and nearing its 50-day SMA (396.93); a break below this level could accelerate the downtrend. News that Tesla is abandoning copper may offer cost advantages but also introduces uncertainty during the material transition. In the short term, selling pressure is likely to persist, though oversold conditions could trigger a technical rebound.
📊 COPPER — Piyasa Yorumu
▼ down · 60%The news indicates that major automotive companies are moving away from copper and turning to substitute metals. This development could be perceived as a negative signal for copper demand. In technical indicators, the RSI is approaching the overbought zone at 66, increasing the likelihood of a short-term correction. Although the MACD remains positive, the selling pressure generated by the news may pull prices down in the near term. While being above the SMA20 and SMA50 supports the medium-term trend, the news impact could dominate in the short term.
📊 FCX — Piyasa Yorumu
▼ down · 65%The news indicates a significant drop in copper demand, which is negative for copper producers such as FCX. Technical indicators also confirm the weakness: the price is below the 20- and 50-day moving averages, the RSI is at 45, in neutral territory but with a downward bias, and the MACD is below the signal line and negative. Selling pressure is likely to persist in the short term.
📊 SCCO — Piyasa Yorumu
▼ down · 60%The news indicates a significant decline in copper demand. Major players such as Ferrari and Tesla are moving away from copper, which is a negative development for copper producers like SCCO. Technically, the price is trading below the 20- and 50-day moving averages, and the MACD is in negative territory. Although the RSI is below 50, it is not in oversold territory, suggesting that the downward potential may continue. Selling pressure is likely to increase in the short term.