VinFast Launches Certified Pre-Owned EV Program in the US

TSLA closed at $393.87, trading well below its 20-day and 50-day moving averages of $404.81 and $407.93, respectively. The RSI is approaching the oversold territory at 39.3, while the MACD line remains below the signal line and in negative territory. VinFast's second-hand EV program could challenge Tesla's dominance in the used car market, potentially adding further pressure on the stock in the near term. With technical indicators already showing a weak outlook, this news may amplify selling pressure. However, since the downtrend has not yet reached oversold levels, I expect a downward move with moderate confidence.

BYD shares are trading at 86.86, down 0.74% in the last 24 hours. The RSI is at 41, indicating weak momentum, while the MACD remains below the signal line and in negative territory, suggesting continued short-term weakness. The price is trading below both the 20-day (88.10) and 50-day (88.13) moving averages, pointing to sustained selling pressure. Although VinFast's used EV program news does not pose a direct threat to BYD's competitive position, it may heighten concerns over increasing competition in the sector. The short-term downtrend is likely to persist.

Although NIO shares rose 2.7% in the last close, the RSI at 46.5 remains in neutral territory and the MACD is slightly below its signal line. The SMA20 and SMA50 are very close to each other, indicating a sideways trend. While VinFast's used EV program is not a direct competitor to NIO, it could increase competition in the sector. In the short term, it is difficult to determine a clear direction, so a neutral outlook stands out.