hhjsyndrome
2023-07-04

$Tesla Motors(TSLA)$ Get ready to buckle up and join me on a wild ride! It seems like Elon Musk's brainchild is revving up its engines and zooming ahead. In a surprising turn of events, Tesla delivered a whopping 466,140 vehicles, leaving Wall Street's consensus estimate in the dust. I guess you could say Tesla went full Ludicrous Mode on those expectations!

Now, let's put on our chart-tinted glasses and analyze the stock price. From a technical standpoint, Tesla's stock is on a joyride, moving above and away from those moving averages. It's like watching a Tesla zoom past a bunch of clunky old gas-guzzlers on the highway. The MACD orange line is having a grand old time, happily cruising above the yellow line and pointing upwards. And the RSI? Well, it's looking good, not overextended like a rubber band that's about to snap.

Currently, we're parked at the 270 levels, eyeing those 280s like they're a juicy slice of electric apple pie. But hey, hold your horses (or should I say, Teslas) – we've got a previous peak at around 314.67 that we need to overcome before we can soar even higher. It's like trying to convince your grandma to try out a Tesla Cybertruck instead of her trusty old station wagon. We've got some convincing to do!

Now, let's take a detour and explore the options market. It's like a bustling marketplace filled with traders waving their flags of optimism. We've got more contracts being traded at the 300 levels than you can count, with almost 27,000 call options in the mix. And that's not all – there's another big bunch of calls just slightly above 300, eagerly waiting to join the party. Oh, and don't forget the massive stash of almost 22,000 call options at the 350 levels. It's like a chorus of bulls singing, "We believe in Tesla!"

But hold on, my friends, because we've got some put options acting as supportive bumpers at the previous 260 and 250 levels. It's like Tesla's got a safety net in place, ready to catch it if it takes a little stumble. So, while I'm tempted to say Tesla's stock price could reach the $300 mark, there might be a bit of resistance at that level.

So, where do you think Tesla will go next? Will it soar to new heights like a SpaceX rocket, or will it hit some speed bumps along the way? Hop into the comments section and let's make some wild predictions! Just remember, buckle up because with Tesla, you never know what kind of unexpected turns and twists await us. Happy forecasting!

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • jingli
    2023-07-04
    jingli

    Yes, the 'legacy' car makers are bringing out their own EVs, but who's charging network will they be using? That's right, Tesla's.

  • Bodoh
    2023-07-04
    Bodoh
    Profit margins sacrificed to move units. Stop hyping and short the stock
    • hhjsyndrome
      Nobody is hyping the stock. I'm only showing people what the options market is pricing in. Everyone should do their own research.
  • Kooza
    2023-07-05
    Kooza
    Great ariticle, would you like to share it?
  • vippy
    2023-07-11
    vippy

    Just a healthy pull back, I’m not worried…I’ve seen all the songs and dance the clowns putting on since Tesla was just above $100.

  • pixiezz
    2023-07-11
    pixiezz

    If Tesla demand doesn’t pick up soon, we’re going to see a lot more layoffs of production workers, and forward guidance at ER is going to be horrific. That will sink the stock, FOMO or no-no…

  • wigglyz
    2023-07-11
    wigglyz

    Rotation to less expensive stocks is key. Funds are now doing it looking fir better opportunities. This has been way overbought now for a very long time. Risk management is the key.

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