TSLA is up 145% this year including an after hours $15 surge on a deal with GM for GM to use their charging protocol and superchargers. Up 10 days in a row and nearly $100 in six weeks, literally nothing has changed at the company. Margins getting squeezed and demand waining as there is inventory build everywhere. I'm not calling a top here but the facts are the facts and Tesla is the most stretched it's been in a long while. China and European market share falling...the stock should probably follow. Stock is facing its long term downtrend, its rising wedge resistance and critical overhead resistance. Overbought on most timeframes except weekly. I expect a correction soon.
I couldn't have said it better, so I guess I'll just throw a little word salad into the mix.... To be fair they're just a bunch of aimless robots over there who's intelligence is 69% artificial anyway. Thankfully GM and Ford swooped in to save the day and that Elon can stop stacking his doggy coins for long enough to ask real automakers how margins even work. Yeah and If he can listen maybe Tesla can finally turn a profit and then FINALLY they can pay the tax payers back!
Oh.... Wait...
Thanks guys, it's been entertaining! Well, I'm smiling anyway. Have a great weekend!
BobbySpa
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@captelectron, appreciate the color….at some point the markets will see thru the musk persona and the company will have a slight premium to the overall industry average and Cathie Woods and her pom poms will still be sitting around waiting for Bitcoin to hit 1M. Enjoy!