$TSLA: Weekly and Monthly turned up
Updated
As per my prior post, 
TSLA started to reverse the decline from the market top, after Elon sold shares back then. Recently, Kimbal Musk exercised options to purchase shares, and we had a series of interesting developments. The last report was very good considering the lock downs in China affecting TSLA Shanghai as well as sales in China, as well as high commodity prices weighing in on input costs. Despite this, TSLA surged after reporting earnings which showed they generated 621M in free cash flow despite factory costs and China lock downs impacting them.
They raised 936M from selling Bitcoin, which also helps reduce risk and correlational impact from down days in crypto markets, and might ease some PM anxiety regarding the company (and mine). Weekly trend turned bullish last week, I am long, holding here, but interesting to note the new monthly signal, which points to a price target of $1625 by May 2023. Upcoming fundamental catalysts are interesting as well, and combined with the new spending plan, set the stage for a rally provided my general market view is correct here. I don't consider the stock split a big deal, but it will help trade options safely for people with smaller accounts, that's likely coming during August, then we have a potential credit rating upgrade as well. By October, the
TWTR trial is a risk but might help get rid of some risk in the stock, as Elon could need to sell shares if forced to acquire the company.
Best of luck!
Ivan Labrie.
TSLA started to reverse the decline from the market top, after Elon sold shares back then. Recently, Kimbal Musk exercised options to purchase shares, and we had a series of interesting developments. The last report was very good considering the lock downs in China affecting TSLA Shanghai as well as sales in China, as well as high commodity prices weighing in on input costs. Despite this, TSLA surged after reporting earnings which showed they generated 621M in free cash flow despite factory costs and China lock downs impacting them. They raised 936M from selling Bitcoin, which also helps reduce risk and correlational impact from down days in crypto markets, and might ease some PM anxiety regarding the company (and mine). Weekly trend turned bullish last week, I am long, holding here, but interesting to note the new monthly signal, which points to a price target of $1625 by May 2023. Upcoming fundamental catalysts are interesting as well, and combined with the new spending plan, set the stage for a rally provided my general market view is correct here. I don't consider the stock split a big deal, but it will help trade options safely for people with smaller accounts, that's likely coming during August, then we have a potential credit rating upgrade as well. By October, the
TWTR trial is a risk but might help get rid of some risk in the stock, as Elon could need to sell shares if forced to acquire the company. Best of luck!
Ivan Labrie.
Note
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