To The Moon

$Tesla Motors(TSLA)$ has been making headlines with its remarkable success in the Chinese EV market. However, despite strong sales figures, the technical analysis of Tesla's stock reveals a challenging trendline breakout scenario. According to the China Passenger Car Association (CPCA), Tesla experienced an impressive 68.7% surge in sales for China-made electric vehicles in December, selling 94,139 units. The Chinese market played a significant role, constituting 52.4% of Tesla's global deliveries for the entire year. The Shanghai plant, Tesla's largest globally, continues to contribute substantially not only to the Chinese market but also to other regions like New Zealand, Australia, and Europe. Tesla achieved a record-breaking global delivery of 484,507 cars in the fourth quarter, exceeding market expectations. However, the company lost its top spot as the leading electric vehicle maker globally, with Chinese rival $BYD COMPANY(01211)$ reporting a record quarter and outpacing Tesla with sales of 944,779 new energy vehicles. TSLA Weekly Chart Turning our attention to the technical side, Tesla's stock chart reveals a notable trendline breakout attempt. Despite multiple efforts since November 2021, the stock has struggled to sustain a breakout above the trendline. The recent breakout last week was followed by a plunge in the stock price, reminiscent of a similar scenario where a 30% drop occurred after a failed trendline breakout. For traders and investors, the cautionary tale from the technical analysis is essential to heed. The failure to hold above the trendline raises concerns about the sustainability of bullish momentum. Considering the historical precedent of a substantial drop following a failed breakout, caution is advised for those considering bullish positions at this juncture. In my opinion, it is not looking bullish short term despite the news. In conclusion, Tesla's triumph in the Chinese EV market is undoubtedly commendable, yet the technical analysis of its stock raises valid concerns. Navigating this dichotomy requires a balanced approach, with an eye on both the company's achievements and the cautionary signals from the stock chart. As always, thorough research, risk management, and adaptability are key when considering trades or investments in a dynamic market like Tesla's. Are you cautiously optimistic, or does the technical analysis sway your perspective? Share your thoughts and experiences! Disclaimer: The information provided is for educational and informational purposes only and does not constitute financial advice. Always conduct your research before making investment decisions. Follow @TigerStars @MillionaireTiger @Daily_Discussion @CaptainTiger @Tiger_SG @Tiger_comments @TigerClub @Trend_Radar @TigerEvents