Despite the high sales number, I am leaning bearish in the midterm beyond the speculative sentiment shifts in the short term.
While the sales numbers are positive, the fact that there were significant rounds of price cuts will point to a decline in margins which undercuts profits. Furthermore, part of the future growth story of Tesla is dependent on its charging network which I doubt will see major inroads in China. FSD may also experience issues of technology diffusion within China.
I expect it to hover within the 240-265 range this week, on the buoyant sentiments, ending the week around 250. But as we all know, this is TSLA, and we have Elon Musk factors at play too. A tweet could send it back up to 300? Let's just enjoy the ride!
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TSLA keeps going strong, Shorts really have to hope the market crashes in for TSLA to drop. I'll be buying on dips and taking profits before the real PuppetBiden Market falls off the cliff. Then I'll load up on a lot more TSLA!
I've received signal that Tesla within 4-5 weeks will hit $329
Morgan Stanley names Tesla its AI "Top Pick" with a $400 price target.
technically this should reach $300 today.
Why not. $292 before next week.