This was shown by the market continued optimism for the above prior to the Q2 delivery and Q2 results. The market sentiment was undecided with bears winning some rounds and bulls winning a big round with Adam Jonas' price target update in September.
However, market sentiments started to sour when some analysts and fund managers, including Gary Black, began to give warnings that Tesla might not reach the Street's concsensus number. The actual delivery number was a reminder that the market could have been too optimistic about Tesla's performance, perhaps overly discounting macroeconomic headwinds.
The Q3 earnings call was a direct reminder by management that no company in the world can beat the Fed and overcome global economic-political concerns. As one article wrote today "Tesla: Is good good enough?", sums up the sentiments of some market participants well.
In view of these events, I revise my forecast downwards towards a possible $180 support. Watch to see if the intermediate support of $212 is broken. If so, $180 is more likely than not. If $180 is broken, there is nothing to stop the stock heading to the $100 support at the start of the year. And this price action may play out over a couple of quarters.
Until the interest rate starts to plateau next year, and global political-economic concerns subside, Tesla will see a slow climb up the wall of global worries and the weak economy. Watch also the performance of the mega caps like Apple and Nvidia to have a good gauge for the direction of Tesla's stock.
Comments
过去一周，买家和卖家都犹豫不决。暴跌至202美元后又升至222美元的高点。昨天，向下突破212美元是显而易见的。然而，今天的盘前价格回升至209美元。这可能是两天前谷歌和脸书令人失望的结果，以及今天亚马逊和英特尔欢呼的轻微市场反弹。正如我上周所写的，继续关注最大的股票，因为市场现在几乎反映了它们的走势。
TSLA无法对抗宏观环境。事实上，也看看其他原始设备制造商的销售。行业呈下降趋势，不仅仅是冰品牌。如果埃隆是可信的，那么他的悲观观点应该比他的乐观观点更受重视。
Wow. Big drops these few days. No wonder Cathie Wood keeps selling TSLA (even a few months before the recent earnings released). She must knew a big storm is coming for TSLA and the financial markets.
Don't pay attention to daily fluctuations. TSLA is not a daily trade, it's a long term hold. If possible load more on down days and enjoy the ride. This company is a winner long term. TSLA still in its infancy and will be continously growing the next 10 years at least. More splits and increase in stock value are in the horizon. Smart investors don't allow red days or shorts influence them. They think future and innovations TSLA is it !!
Sales will definitely be weak. Interest rates are at their highest since 2007 and will probably go higher (for longer). On top of that, home budgets are suffering from extreme inflation. Big ticket items like houses and cars now too expensive, hence sales drop off a cliff. People are repairing their cars instead of buying a newer model.
Two Qtr ago, Elon told all of us that Tesla will be worth more than Apple and Aramco combined. What happened to that? Sad, So Sad.
Thanks for sharing. I'm outta here. Next came the recession.