$Tesla Motors(TSLA)$ ๐จ๐ โผ๏ธ Update โผ๏ธ
๐๐จ๐๐ $TSLA: The Harmonic Tango ~ Will It Bounce or Break? ๐๐๐๐จ
Kia ora Tiger traders!
Buckle up, because Teslaโs (TSLA) stock is poised for a high-octane move, and the harmonic patterns are lighting up the dashboard! ๐ฆ My analysis aligns perfectly with the latest insights from TradingView and Yahoo Finance. ๐
๐ Harmonic Patterns & Market Signals:
My harmonic pattern scanners are flashing red, warning of a potential reversal as $TSLA dances towards point D. This critical zone is nestled between $236 and $248, where many traders are waiting with bated breath. ๐ If the pattern holds, Iโm expecting a brief B bounce on the horizon before $TSLA shifts into reverse, possibly testing those lower gap levels Iโve identified. โ ๏ธ
๐ What the Indicators Say:
1. Moving Averages: The bears are in the driverโs seat with a sell signal across most short-term moving averages. The road ahead looks bumpy as $TSLA trades near these crucial levels. ๐ฃ๏ธ
2. RSI and MACD: The RSI and MACD indicators are flashing potential breakout signals. ๐จ If the RSI crosses below its moving average or the MACD makes a bearish crossover, it could confirm a sharp decline towards the $204 gap fill zone. ๐
3. Volume Analysis: With heavy accumulation between $187 and $201, Iโm seeing some potential pit stops around these levels if $TSLA drops further. ๐
๐ Targets in Sight:
๐ข Point B Reversal: Iโm keeping my eyes on the $223-$225 range for a short-term bounce. Itโs the last pit stop before a potential downhill race.
๐ด Gap Fill Target: $204-$208 is the hot zone. If $TSLA fills the gap, it could be the green light for bulls to re-enter the track. ๐ข
๐ข ๐ขResistance at D: If $TSLA shifts gears and reverses post-gap fill, Iโm expecting a ride up to $236-$248, right where the Fibonacci retracement aligns. ๐
๐งฉ Breaking it down for Newbies:
Hereโs what all this technical analysis boils down to:
Tesla's stock ($TSLA) is currently trading in the overnight market, with the latest price around $213.64, up by $2.98 (1.41%). Pre-market trading is set to start in about 15 minutes, and based on the current trend, we could see a small bounce to around $223 to $225 when the market opens. However, this bounce might not last long. After that, thereโs a good chance the stock could drop lower, possibly down to $204 to $208 to fill a price gap. This drop could present an opportunity for those looking to buy at a lower price before the stock potentially climbs back up towards higher levels, like $236 to $248. It's essentially a wait-and-see scenario to determine if the stock will dip first before possibly rebounding.
Hey Tiger Traders, do you think $TSLA will hit the brakes or shift into high gear?
๐ค@TigerGPT, how reliable have harmonic patterns been historically for $TSLA?
Happy trading ahead. Cheers, BC ๐
@Tiger_comments @TigerStars @TigerOptions @Daily_Discussion @TigerPicks @YeddaJohnson @fishinglo @shining87 @All or Nothing
Modify on 2024-08-23 16:59
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Please find the analysis for Tesla (TSLA) below:
Business Overview and Growth Potential:Tesla is an electric vehicle (EV) and clean energy company. It designs, manufactures, and sells electric vehicles, energy storage products, solar energy products, and related services. The EV industry is expected to witness significant growth in the coming years, driven by increased demand for sustainable transportation solutions and government initiatives to reduce carbon emissions.
Earnings Analysis:
Latest Earnings: In the second quarter of 2024, Tesla reported an EPS of $0.46 with a gross profit margin of 17.95%. The return on equity (ROE) was 9.04%, indicating the company's ability to generate profit from shareholders' investments.
Earnings Forecast: Analysts forecast Tesla's EPS to be $2.32 for the full year 2024, $3.15 for 2025, and $3.94 for 2026. The company is expected to experience growth in earnings supported by expanding gross income and EBIT figures.
Trend Analysis:
Support and Resistance Levels: The support price on August 22, 2024, was $177.41, while the resistance price was $247.41. These levels indicate the price range where the stock is likely to find buying support or face selling pressure.
Stock Price: As of August 23, 2024, the stock price of Tesla is $210.66. The average cost is $226.23, suggesting that the stock is currently trading below its average cost.
Valuation Analysis:
Analyst Target Price: According to 42 analysts, the mean target price for Tesla is $208.13, with a low estimate of $24.86 and a high estimate of $310.0. This wide range reflects differing opinions on the stock's future performance.
Analyst Recommendation: Out of the 42 analysts, 7 recommend buying, 12 recommend a strong buy, 20 recommend holding, 8 recommend underperforming, and 4 recommend selling the stock.
Capital Flow Analysis:
Capital Flow Data (5 Day): The recent capital flow data shows a mix of inflows and outflows on different dates. It is important to consider these trends as they can impact the stock's price in the short term.
Historically, harmonic patterns have been used by traders and analysts to identify potential reversals in stock price trends. However, it is important to note that no analysis tool or pattern can guarantee future performance. It is always recommended to conduct comprehensive research and consult with a financial advisor before making any investment decisions.
Disclaimer: The above analysis is for informational purposes only and should not be considered as investment advice. Investing in stocks involves risks, and the stock market is subject to fluctuations. It's important to do your own research and analysis before making investment decisions.
Your fib levels are on point!๐ซก๐
Have a lovely weekend! ๐ฅ๐
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