could this be the right side of a cup and handle forming? if yes, and it duplicates march/april pattern we could be headed to $1000 before the kids return to school. you heard it here first.
Tesla could jump to $1200 in a day. It wouldn't surprise me if that happens in September on the next AI day, if they can get the robot working, in that time, without killing too many people. What we haven't seen, is Tesla dropping line a stone. Sure, we've seen roll backs from $890 to 550 and from $1200 to $800 but not in a day. The knee-jerk reactions have all seemed to be up. I'm no trader. I don't know what that means beyond seeming to suggest positive sentiment toward Tesla. As a value investor, I'm pretty sure Tesla can't gain $600B of value in a few weeks so I am starting to suspect the price swings are being driven by people doing a bit less research than I do.
I will be right behind you, chanting words of encouragement, and wondering how this guy walks with balls the size of grapefruit.
A lot of cup & handle....bull flag...bullish inside bar...and other bullish patterns in general all over the charts. All eyes on tomorrow -- but honestly, whatever move it makes will be quick...and then price will probably enter its own chop-zone at whatever level it moves to off the CPI data. The Fed meeting is only a few trading days away itself.
We have start-up which built less than a million cars in the last year valued at $690B. I need a welding helmut to view the Tesla chart.
I meant the current downturn, inflation everywhere, food prices soaring, Tesla looking to reduce employees. The company and its technology are sound, but its tougher to buy cars when you start spending all you money on food.
From an investor's point of view, we have a Ford Escort doing 300 mph on the Daytona Oval while spectators ponder why it isn't doing 310 like it did last week.
Are they really reducing employees? I didn't look into it other than the headline that was basically like "Tesla to cut 10% of salaried employees, but hire more hourly". In general, that's probably a good thing. More people building cars, less middle managers going to excessive pointless meetings. As long as they cut the right salaried people anyways.
I believe there will be some people who are switched from salary to wage, as a performance motivation. This probably won't be a lot of people. Elon is probably looking for a mechanism that will allow him to scale in the upcoming financial Holocaust. With wage employees, you can cut back their hours as needed.
For all the announcements over the last 10 days that Tesla is back at 100% capacity, I think they are still ramping. They appear to be doing well but they aren't abusing the inventory lot like they used to. There was another announcement today but the lot at Giga Shanghai is about 1/3 full. A ship full of Teslas was scheduled to sail later today so maybe the empty lot is a reflection of the 4100 cars heading overseas.
That is where I would consider entering TSLA. Right now, I am really liking BLK, BlackRock. Down 5.5% on Friday and trading in the low 600's. Nice Quarterly Dividends too.
I believe there will be some softening of expectations at the QE call. I base this on potential ramp struggles I see from observed Giga Texas output. I'm the last guy to panic on Tesla. It's a great company doing great things. Current problems (4680 ramp, COVID shutdown, etc.) are short term. The point is they are being hit from several sides with several issues. If this were base reality, there would be a market cap reckoning. In this reality, however, your guess is better than mine.
Pullback like this was expected. China's factory was shut down for like 2 months. China's market is a good share of their sales numbers. Asides from that if he wants to buy Twitter and needs $30 Billion that money has to come from some where. Last time he needed $10 Billion his stock dropped from almost $1100 to around $800 so if he needs $30 Billion a bigger drop is expected and add loss of sales for 2 months out of China factory leads me to believe that this could possibly go to next support level under $600
