$Tesla Motors(TSLA)$ $Direxion Daily TSLA Bull 2X Shares(TSLL)$
ππ€© TSLAβs New Year & New Dawn Symmetry: Bulls Eyeing $422! ππ
What's a New Year without a $TSLA chart! π€©
I believe TSLA is copying the same structure it followed in minor wave 3 to 4 (orange circle), now playing out on a larger scale in major wave 3 to 4. This setup suggests a potential bounce to the $417.00 to $422.00 range on favourable data. However, I still think we have one more wave down afterwards and need to be careful. Obviously, if numbers disappoint, we continue downward.
Tiny gaps at $391.80 and $360.00 remain in focus as potential targets. Inversely, if data can push the price above $450.00, TSLA may be off and running into a powerful rally. I'm invested in open TSLL positions and hoping for a push at 0600 03Jan25! π
Tesla will announce its 2024 Q4 delivery numbers tomorrow around:
πΊπΈ 6:00 AM PDT
πΊπΈ 8:00 AM CT
πΊπΈ 9:00 AM EDT
π¬π§ 2:00 PM BST
πͺπΊ 3:00 PM CEST
π―π΅ 10:00 PM JST
π°π· 10:00 PM KST
π¨π³ 9:00 PM CST
π¦πΊ 12:00 AM AEDT (03Jan25)
π³πΏ 6:00 AM NZDT (03Jan25)
Wall Street is expecting approximately 506,763 vehicles.
Whatβs the favourable data?
Elon said a few earnings ago, Tesla will deliver more cars in 2024!
Tesla is expected to deliver 506,763 vehicles by January 2, 2025. Exceeding this figure could spark a surge in stock price due to increased investor confidence and positive market sentiment.
β’ Market Sentiment: Beating expectations might boost investor confidence, triggering a rally.
β’ Comparative Performance: Surpassing past delivery numbers strengthens Teslaβs growth story.
β’ External Factors: Broader economic news could amplify or dampen the stockβs response.
Hereβs how the expected number stacks up historically:
β’ Q4 2023: 484,507 vehicles delivered, marking a yearly total of 1.81M and 38% year-over-year growth.
β’ Q1 2024: 386,810 vehicles, showing the first annual decline since 2020.
β’ Q2 2024: 443,956 deliveries, slightly below Wall Street estimates but up 14.8% from Q1.
β’ Q3 2024: 462,890 vehicles, a 6.4% year-over-year increase but below some expectations.
If Tesla hits 506,763 for Q4 2024:
β’ It would surpass the Q4 2023 record by over 22,000 vehicles.
β’ Represent a major recovery from the Q1 2024 dip.
β’ Demonstrate a return to growth, alleviating earlier concerns about demand and production.
Tesla has expanded its referral program to certain parts of Europe, Middle East & Asia!
USA: $2,000
Canada: $2,600
Germany: β¬1,000
France: β¬1,000
Netherlands: β¬1,000
Norway: 11,500kr
UK: Β£500
Australia π¦: $1400 AUD
New Zealand: π³πΏ $1600 NZD
Italia: β¬1000
Switzerland: 1000 CHF
Sweden: 11400 SEK
South Korea: 660,000 Won
Japan: 60,000 yen
Singapore: S$1200
In summary, my chart leans cautiously bullish with exciting upside potential, the delivery numbers hold the key to TSLAβs New Year momentum. Exceeding expectations could trigger a short-term rally, while broader market dynamics will determine the magnitude of the move. π
Happy trading ahead. Cheers BC πππππ
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Let's go TSLA!