To The Moon

$Tesla Motors(TSLA)$ BearishShares of Tesla Inc. fell into correction territory last Friday, and their chart suggests the selloffs are likely to continue for awhile longer.

⚠️ 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

Tesla’s 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 “other income” in boosting the results, while some expressed unease over the lack of clarity on the company’s margin trajectory. CEO Elon Musk‘s 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, Musk’s social media platform Twitter rebranded as “X,” 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 Tesla’s Cybertruck could offer some support against potential downside risks.

Upcoming earnings this week

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