Short term price target $460.
- Elliot Impulse Wave - We have just completed wave 3, consolidating in a horizontal wave 4 and painting a bull flag taking us into wave 5. Wave 5 catalyst will be 2019 Q4 earnings in Feb 2020.
- Fibonacci - Drawn from the $176 bottom in June 2019 to a 61.8% level at $350, gives us price target of $460 in Feb 2020.
- Macro Environment Good - Runway has cleared with the removal of trade and brexit fears
- Media Sentiment - The narrative has changed for Tesla . Has shown strength and lack of downside on red days where the broader market sells off.
- Products - Best product mix in a number of sectors - transportation (retail and commercial), energy, software/artificial intelligence. Competitor offerings can't even compete with 2012 Tesla model S (7 year technology moat).
- Expansion/Upside - Giga China operational, Giga Berlin plans announced
- Innovation Culture - Management willing to call out and remove bureaucracy, organisation still able to move faster than the competition
- Brand - Strongest brand of any car manufacturer, particularly among millenials (set out surpass the boomers as the largest living adult generation), attracts the best engineering talent, cult-like status brand
- CEO - The DaVinci of our time