I'm still bearish on TSLA for now eventhough there are some analyst who up their rating on TSLA. TSLA May very well test the $150 support going to year end; I believe there are some more crucial factors that is still weighing down on TSLA
1) TSLA is synanomous with Ellon & the massively controversial headlines he made as a result of purchase of Twitter
2) TSLA has been oversold-contributed but Ellon to finance his Twitter's purchase.
3) Ellon's span of attention on TSLA is also diluted by the fact that he has other projects, other than the newly acquired Twitter, space-X.
4)The fierce competition TSLA is facing from otherchinese EVs like Nio, BYD, Li auto, Xpeng
5)The highly debated TSLA's own battery that made use of highly flammable lithium battery. It was recently reported that Tesla model S erupted like a "flamethrower". TSLA 's battery is also more costly & not efficient as it has to be charged for longer hours & going lesser distance in contrast to the solid state battery.
Overall the bearish conditions, although to a large extent has been caused by overall bearish sentiments in the market but recent Q3 2022 financial report by TSLA to a large extent has contributed to the fall in price. Sales & deliveries for Q3 2022 fall short off forecast as Ellon blamed "delivery bottlenecks" for the problem as he maintained that demand is still strong. The headwinds in China did not help as demand fall for EVs & prices has to be slashed.
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