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TSLA under pressure from rise of EV! Coiling for a break. UorD? The EV space is growing really fast! With TSLA at the helm so far it's seniority is not being questioned as the stock price stays very much afloat. Tesla so far is the leader and holds true to its product on the streets and continued delivery of cars. However, there are some car makers in the industry that are making a push like Chinas NIO. TSLA has been feeling the pressure from the incoming new "EV" space like SPI. We will have to see a physical product for those companies and the ones to come to be a real threat. Otherwise, it's just like the DotCom boom. Throw EV in your company and the stock price rises 1000%. Due to that TSLA has been coiling. We saw a recent lower higher that suggests some of these bears are coming into this market for a slight push lower. We are coming into that same area and if we print yet another lower high we are going to see some downside pressure come into this market. The key support is at $335-340 should that support break we are going to see $280 on TSLA fairly quickly. Some of the downsides could be attributed to the recent market and economic downside as well. To the upside for the TSLA bulls and the optimistic traders, we are also seeing higher lows. The volume is a little weaker on the upside but the bull side can easily break a new high and TSLA could be headed for the $500 level yet again. It's just a matter of buy pressure. The downside target would be the 100-day moving average which could be around $300 should the price consolidate. Under that level should the market spill TSLA's volatility will cause the stock to plunge.
NASDAQ:TSLA
by TRADEPROAcademy
TSLA - SHORTLooking at TSLA on Weekly we can see that TSLA completed it's impulse wave up which started the beginning of dec,19. I think we are in a correction ABC pattern which should touch .618 fib extension or possibly go down even further to .786. RSI has been overbought since June and it is about time for this bad boy to take a breather. MACD is also ticking downward and reversing direction. In a healthy bull run scenario I can see TSLA bouncing off the 55 MA or at least holding it as a support for a while. This is if we think that the market will keep on going up. There are a lot of factors in play which will affect the market sentiment. One of the biggest being the presidential election in a little over a month. This will impact the general direction of the market as whole. I think a good buy zone will be $150-200 range. Any thoughts and feedback are always welcome! Good luck trading!
NASDAQ:TSLAShort
by Technical_Perspectives_69_420
4
Tesla in October 2020 I've highlighted or marked the double-top pattern that IS NOT YET CONFIRMED. This week we got the news of Battery Day and the hype has died down. Both rejections on the Weekly chart show more Bear Volume than Bull. MACD hasn't flipped bearish since March. RSI is still over-heated. The U.S election is 40 days away and there has always been a market dump around this time. These are all prime factors to consider for what Tesla's price action will look like in the next month or so. Being short or cash is the best move at the moment with all of this uncertainty.
NASDAQ:TSLAShort
by tired_man_willis
1
BATTERY DAY IS HERE | Watch These Levels $tslaAttention is on Tesla as we engage with "Battery Day", are the bulls here to stay? live @ 4:30 pm EST ~ Are you bullish or bearish? The stock currently sits above what has proven to be strong support @ $410 Watching the orange trend line(s) as support , it holds strong on the weekly timeframe . Looking to bounce off this. Possible long on hold above @ $420 Upside targets: $453, $542, parabolic? Possible Short Entry: $405 Caution needed in this stock as we have extreme uncertainty, you will get clapped if you're on the wrong side of this. Small Play (educational): TSLA $535 Call 9/25 @ $340 DotcomJack | Bruce Lee of Tradingview
NASDAQ:TSLALong
by DotcomJack
Tesla bulls and bears will battle on battery day.Tesla, where anything goes and volatility is crazy. Battery day will be an interesting battle ground. A key bounce of the 50 day moving average has kept hope alive for tesla bulls. The massive sell off could spark a snowball sell off into the a.m., on the other hand the sell off landed at a key support level. This keeps it in a bullish overall trend, but it is at a critical level where a move to a certain direction could set the tone for the rest of the month possibly into November. Bears have had some fun recently, but theres no reason to believe investors give up on tesla after hearing some big news. The end of day sell off could be perfect for the bull case that this runs, because the selloff due to Elons tweet could have baked the underwhelming news into the price at close, as it rebounded slightly after hours. Battery day will be a test on its own. 1 metric used in this chart is the RSI stretch. If you look, you can see patterns and dates noted where the Rsi runs " hot" for multiple days.
NASDAQ:TSLA
by king806
6
$TSLA Short wave 3 From a broad perspective, $TSLA has just completed its corrective abc pattern wave 2 from it's initial wave 1 impulse drop. At the end of the trading day Friday 9/18 the market is looking like a sell-off. If Tesla follows suit with a gap down on Monday, we could be in the Cycle wave three and expect another impulse wave down below the initial wave 1. I am targeting below $325 for wave 3. This will happen fast. My theory would be invalidated if we break above $460. This wave 2 that just ended looked like a major rally so expect something similar, though more flat for Wave 4. Ultimate wave 5 target could reach sub $200 or $195. Good Luck.
NASDAQ:TSLAShort
by Harry_Hood
21
TSLA - Long now to $432, then Short to $273 after Battery DayI'm waiting for a good entry $430 or $460 to Short TSLA after Battery Day Sep 22, 2020. I believe TSLA will rise on Monday and Tuesday (Sep 14 and Sep 15). It will easily break through the weak resistance zone $400 - $415 and continue sideways up to $432. Most likely, TSLA will hit resistance at $460 (That new top is still lower than ATH price) before entering a strong bearish trend on the Daily and Weekly frame. Disclaimer.
NASDAQ:TSLAShort
by PhanTichStock_com
2
TSLA - Big Banks selling Tesla into Battery Day - Down Big FRIExpect TSLA to have a near carbon copy of what happened today before regaining some of it's strength just before we head into the weekend (assuming the NASDAQ is stable). I'm worried this morning's premarket action was just a preview of things to come. Stocks bounced at the open before showing increasing weakness throughout the day repeatedly challenging some key levels. To make matters worse, TSLA formed almost a perfect bearish pennant during today's trading session. The TICK action on the stock today was filled with big moves down and slow rebounds - typically indicating that the big players are starting to move against the stock while retail investors are left holding the bag. Tesla is a strong stock, and one I like to be on the bull side of under most circumstances, but the weakness it showed today - especially in the afternoon - leads me to believe a lower open is all but certain Friday morning. This will likely get a small bump as PUT positions clear, leading to a short lived rally similar to what we saw today. I expect Tesla to open in the $400-414 range, moving quickly back to $420, and then ultimately grinding down until the final hour of trading. Going into the weekend, I think TSLA will rebound from a LOTD in the $383-389 range and recover to low $400s. That momentum will likely include a gap up into Monday's trading session and the lead up to battery day; however, the shareholder meeting is scheduled the same day as battery day. I expect we're going to get some very NEGATIVE news likely related to COVID, the factory shutdowns, and increasing competition. The cybertruck looks like it could be in serious trouble with Ford debuting its all electric F-150 in 2022 - within 6 months of the tsla cybertruck launch (and it has the benefit of not looking like a Total Recall inspired sardine can). The Play: Short TSLA - if the NASDAQ is broadly down, short at open. If the NASDAQ is up or sideways premarket, wait for the bounce to $420, then short. Drop the shorts < $390 and don't hold the shorts over the weekend.
NASDAQ:TSLAShort
by DontListenToThisClown
The imminent TSLA Implosion - Beware Monolithic Financial NewsOne of the biggest red flags when it comes to investing is a monolithic/singular message reverberated ad nauseum throughout the financial news media. Lately, everything about Tesla has been nothing but positive with almost no analysts commenting on the 800-lb gorilla in the room. Just months ago, Musk was threatening to move production out of California due to what he referred to as 'fascist' government orders to shelter in place - shutting down Tesla's largest production facilities for both its vehicles in the bay area and its battery production in Nevada. Those production stoppages from March to May are going to severely impact Tesla's Q3 financials and is likely a HUGE reason behind Tesla both being rejected by the S&P 500 AND Tesla raising $5B in cash from common stock sales - diluting its shares by more than 1%. Now the hype is all around 'Battery Day', with Musk himself hyping it just yesterday on Twitter saying it's going to be exciting. Everyone already knows about the million mile battery, so while it's interesting tech, it's not something that isn't already priced into the stock and what's more, it's provided by a source outside Tesla through their chinese partner, Contemporary Amperex Technology Ltd. - so despite it being good news for EVs everywhere - VW can buy the same 'million mile battery' that's going into the future Teslas. Just last year, TSLA was struggling to keep up with demand - so much so that Tesla had to walk back from earlier statements that it's gigafactory would be putting out 3,000 model Y's a week by 6 months. Now, the fallout from COVID-19 is coming home to roost. Tesla produced 110k cars in Q1, 82k cars in Q2. In 2019, Q2, Q3, & Q4 churned out 87k, 97k, and 105k respectively. With the massive amount of debt Tesla has taken on to build new gigaFactories in China and Germany - they can't afford to be shut down. This was confirmed by musk in a tweet after he told employees that every unit that produced was incredibly important. It was also confirmed by Musks actions to force workers to return to work or forfeit unemployment benefits defying the Shelter in Place order. More than 130 confirmed cases of COVID-19 would pop up at Tesla and another 20 at their suppliers. Adding to production troubles, many Tesla clients cited quality issues with new deliveries - a clear sign of an overstressed, undermanned workforce. Expect TSLA to try to fill the gap left by last week's S&P snub of 15% in premarket trading this morning. I think it's almost inevitable that shortly thereafter, many of the big inst's will sell off their shares into retail traders waiting arms who are all excited about battery day. TSLA will see a big correction before Battery Day as news of the inevitably bad financial news and Q3 deliveries start to circulate. Perhaps the most telling sign of coming fundamental troubles for TSLA is the company's decision to combine it's shareholder meeting with it's Battery Day pep rally. While everyone is OOO'ing and AWWW'ing the million mile battery, TSLA will also be discussing the substantial losses the company took from the COVID-19 pandemic and increasing competition in the marketplace. The fact that TSLA is overvalued is no longer relevant to the argument - despite being completely true. Tesla's cash on hand is the real issue. The real value of TSLA was just revealed by the most recent common stock offering the company used to raise $5B if you were smart enough to see it. The shares that TSLA sold diluted the market cap by roughly 1.2%, and the market handed TSLA a 35% stock price drop because of it. An over-reaction? Perhaps, but with a price to book ratio of 32.39, while the average auto & truck manufacturer price to book ratio is a paltry 1.9 - and that INCLUDES Tesla. Clearly, if we removed tsla from that average, we would be looking at something closer to 1 (note: anything less than 1 is considered good by value investor standards, and anything less than 3 is preferred). 32.39 to 1 and 35 to 1.2 are practically identical ratios. If a 1% dilution causes this type of sell off, there's no better indication that the stock is incredibly overpriced. To avert a flash crash due to the abysmal numbers we're expecting during the shareholder meeting, Elon is going to be doing the song and dance for battery day on the 22nd. I'm a big fan of Tesla, and have made most of my trading income by buying long calls on TSLA. At least for the short term, TSLA is about to turn into a pumpkin. They'll no doubt rebound, but I don't think we'll ever see a 2500 stock price again - or anything near it. TSLA is the #1 market cap right now for 2 reasons: they were first in the EV market and their autopilot tech is super cool and a competitive advantage that other manufacturers will have a tough time emulating. However, both of those strengths have temporary ramifications - nobody thinks about whether ford or gm was first to market and it's just a matter of time before every other car manufacturer has some type of autopilot feature. But the infrastructure to build up production capacity to the levels of the Big 3 takes decades - and that's time that Tesla unfortunately just doesn't have. Summary: *BEWARE THE BULL TRAP set by an elevated premarket price. *TSLA is estimated to be ~40k units behind production forecasts. This will decimate financials as one of their largest costs - labor - saw no downturn despite the pandemic. *Battery Day was combined with the shareholder's meeting to distract from what will undoubtedly be horrific financials because of COVID-19 *There has been a severe divergence between volume and price - which indicates a high probability of trend reversal *There's evidence of big institutions selling off their positions by block sizes, erratic price action, and low liquidity based on the bid/ask gaps. *TSLA's stock has been on a tear, but reality will set in fairly soon. The shareholder meeting will reveal the cash position of the company - which is likely to be terrifying to many investors and reveal the company's reason for the recent $5B stock offering and S&P rejection. The company will likely only have a few months of reserves at best. *Tesla will undoubtedly survive the coming big drop, but getting back to profitable on a consistent quarterly basis is going to take time. However, we likely saw the top of TSLA's stock price over the last few weeks. Expect some more big steps down in the week to come and around Q3 earnings as well. *RSI shows the stock is severely overbought on the daily, and every time TSLA has run into this high a level on RSI, the following day was almost always negative or at best, flat.
NASDAQ:TSLAShort
by DontListenToThisClown
7
09/06/2020 TSLA, let the bubble burst TSLA enjoyed run fueled by Robbinhooders and Vision fund, but the glory days will be doomed. I believe the gap between fundamental and the price will be reduced this time, by around 50% decline at the current price level. If RS 1 acts as resistance on Tuesday market open, we may be able to take it as a confirmation to the downside. Possible price target Conservative TP 1 - 38% of the fib price level Aggressive TP 2 - 61% of the fib price level
NASDAQ:TSLAShort
by aparkon