Tesla Motors Inc. had a great 2020 as we all know by now. They produced 500k cars as provided in their forward statement of 2019, they had a free cash flow record of $2.8 billions , industry leading 6.3% operating margin and they have secured $19.8 billions in the bank.
On February 15th, the bullish news are continuing as Tesla pushes an entry in the huge Indian market with potential for big growth and profits. According to the state’s chief minister of Karnataka, Tesla picked Bangalore as the site for their first plant. Tesla didn’t immediately respond to requests for comment and did not confirm the minister’s statement but we know from an earlier tweet in January that Elon Musk, Tesla’s CEO confirmed that in 2021 the American automaker would enter in the Indian market.
Technically, we are now in a consolidation that started in January 2021 and the price seems that will break to the upside but there is always a possibility for a bigger correction here. We are watching the channel formed by the grey trendlines and we will see how the price reacts in that areas.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
On February 15th, the bullish news are continuing as Tesla pushes an entry in the huge Indian market with potential for big growth and profits. According to the state’s chief minister of Karnataka, Tesla picked Bangalore as the site for their first plant. Tesla didn’t immediately respond to requests for comment and did not confirm the minister’s statement but we know from an earlier tweet in January that Elon Musk, Tesla’s CEO confirmed that in 2021 the American automaker would enter in the Indian market.
Technically, we are now in a consolidation that started in January 2021 and the price seems that will break to the upside but there is always a possibility for a bigger correction here. We are watching the channel formed by the grey trendlines and we will see how the price reacts in that areas.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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