Caution Advised Ahead of Tesla’s Quarterly ResultsTesla is presenting its quarterly figures this evening. The rally in recent months has been impressive - but will Elon Musk's flagship live up to the advance praise?
From a technical perspective, at least, caution is advised. We see an open volume-imbalance gap at the bottom of the target range. The market tends to close these gaps sooner or later. In our experience, they are more reliable than “normal” gaps.
In view of the technical chart situation and the enormous rise in TESLA shares, we are therefore bearish.
Please note: The stop loss shown is merely an idea. Experience shows that market movements at earnings are very volatile. It may therefore make sense to wait until after the figures are published before taking a position.
