Both Q2 and Q3 2023 earnings reports had negative news for investors, and both had a subsequent drop in their stock value:
If the stock doesn't hold support at $200, which is currently resistance as of the PM, we may see Tesla hit $190 as the next support tomorrow, following $180 with lower probability if $190 doesn't hold.
- Post Q2 earnings report in July: Stock dropped by 12%.
- Post Q3 earnings report in October: Stock dropped by 15%
If the stock doesn't hold support at $200, which is currently resistance as of the PM, we may see Tesla hit $190 as the next support tomorrow, following $180 with lower probability if $190 doesn't hold.
Comment:
At this moment in premarket, we have TSLA under $190: Flirting with the idea of converting an old support to resistance. I am expecting a dead cat bounce up to $195, before testing new lows. $180 today? Ahead of schedule.
Comment:
If $180 doesn't hold, we are looking at a rough 2024.