Signs Of Exhaustion For TSLA ๐ฎโ๐จ
$Tesla Motors(TSLA)$ BearishShares of Tesla Inc. fell into correction territory last Friday, and their chart suggests the selloffs are likely to continue for awhile longer.
โ ๏ธ Trading tips: Looking at puts below 254 towards 251.5, 250, 247 and calls above 257.5 on Monday. Flat price action leading to FOMC on Wednesday expected.
Not pretty for TSLA bulls
Teslaโs stock has been on a downward trend since last Wednesday, even after the company reported better-than-expected earnings and revenue for the second quarter and maintained its delivery guidance.
Analysts highlighted the role of โother incomeโ in boosting the results, while some expressed unease over the lack of clarity on the companyโs margin trajectory. CEO Elon Muskโs remarks hinting at possible future price cuts further dampened investor sentiment.
UBS downgraded Tesla from Buy to Neutral on Monday, although they raised the price target from $220 to $270.
In another development, Muskโs social media platform Twitter rebranded as โX,โ drawing skepticism from analysts about its potential impact on advertisers.
Economic news this week
Amid the uncertainties surrounding margins, the stock might remain rangebound, but the anticipation surrounding Teslaโs Cybertruck could offer some support against potential downside risks.
Upcoming earnings this week
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Great ariticle, would you like to share it?
Great ariticle, would you like to share it?
Great ariticle, would you like to share it?
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About time