$Tesla Motors(TSLA)$ Tesla announced aggressive price cuts globally on their main model lines as well as its FSD and is reported that a 20% headcount reduction is pushed. Further decline on opening has pushed the 1W technical outlook to the brink of oversold territory.
Well one thing's for sure, TSLA has been in this situation before. The growth pattern from 2019 to today is very much like the one from 2012 to 2017. Both started with immense parabolic growth that peaked and declined towards the 0.382 Fibonacci and rallied again after forming a bottom.
As long as the 0.786 Fib holds we expect at least $500 by mid 2025. It is very likely that tomorrow's earnings report coupled with the price cuts will be the fundamental base that the company needs to restore investing appetite back. On the long term this appears to be a worthwhile low risk entry for the undisputable leader of the EV market.
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