Mixed earnings saw Tesla shares retest the June lows after the bell yesterday, and the stock looks like it could be at risk of breaking lower in the coming days.
Although $TSLA did quickly recover from last week’s close below the June low, the bounce over the past 3 sessions leading up to earnings has been on diminishing volumes, warning of a potential lack of bullish conviction in this attempted move higher. With broader market seemingly returning to a risk-off mood, if the stock closes even lower this week, sellers may end up targeting a downside breakout from the psychologically key $200 level.
However, it is worth noting that the bounce from right around the June lows in the aftermarket does point to demand remaining around these levels. If $TSLA can continue to hold this support heading into the weekend, it could potentially form a base to rally from when momentum in the broader market swings back in favour of buyers.
Of course, all trading carries risk, but it will be worth keeping Tesla on the watchlist over the coming days.
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I want Tesla to go brrrrr so its likely to go down and dip more.
These tv financial analysts are so pessimistic. Tesla beat revenue estimates and will still take a beating because did not meet car prod #’s…. Rediculous
The thing with Tesla is that the $1 trillion market cap was only due to people believing whatever story or fairytale was told in echochambers. As long as people believe the tale and the company is “pre-profit”, everyone wants in.
Now that they have cash-flows their fundamentals are suddenly relevant and then people don’t seem to be wanting to pay a PE average over the last five years of 400ish. Especially when considering that car companies are usually traded at low multiples and have iffy profit-margins.
“But tesla is not a car compa…” no. Shut up. It is a car company. Thank you.
Should crack 200 and hit 52 week lows
Insanely over valued and the bubble is finally popping
This was meme #1 not $gme
It’s the most overvalued stock of all time. Should be like $50 based on fundamentals.
Yes, ofcourse either can happen. At the moment, it’s hard to say which has the higher probability of happening. We might get a glimpse today or/and tomorrow of what about to happen as a reaction. Also, keep in mind that recession is also doomed to happen soon (when? nobody knows) which should make stock prices fall further more. So that’s a race against time as well.
Short at yr peril, TSLA always bounce
Yesterday was clearly an overreaction because they missed on revenue but produced more cars in 1 quarter than all of last year. There is a literally a waiting period to get a TSLA it’s not like they are sitting on a lot waiting to be sold brand new. Just very disappointed that yesterday it moved down when it should have been a 10%upside
>I wouldn’t touch Tesla with a ten foot pole. The company is on the verge of bankruptcy and their stock price reflects that.
I think tsla did okay on the ER. However, the biggest risk is Elon needs to sell shit load of stocks to make up short of cash for twitter. He was embargoed before ER, but now he is a free man
It could if Musk resigned tomorrow. His bullshit is tarnishing the brand.
tsla will bounce after elon sold his shares and twitter is closed
I’ll buy more at 100.
I think we’re seeing the emergence of a new class of people: Teslatards
Bro do you write for zacks, this post is ass
So it can go up or go down… Great analysis.
Tesla can still drop most likely, it is still a little overvalued. I would expect it to bottom out at around $100 at the lowest.
Playing footsie with Putin is pretty dumb when you a-make all your money with tax breaks and b-now have other players in the EV space
I’m bullish.
Finna add to my position.
Boyce back after a while
Is tesla only cars? Or is it also spaceX?