Hello everyone, as we all know the market action discounts everything :)
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On August 3 i posted my analysis on the TSLA stock with 2 different Scenarios and warned about a breakout in the market and today we see that the market moved exactly like we thought it would.
Watch how the First Scenario went into action then turns out it was a fake breakout, and then the market moved into the Second Scenario moving to the point like we predicted it to move.
Before :
After :
Now let's talk about the market today. Tesla has been showing great strengths with different technical indicators and moving averages giving us Bullish signs.
Both the short-term and long-term trends are positive. This is a very positive sign.
TSLA is currently trading in the upper part of its 52-week range. The S&P500 Index however is currently trading near a new high, so TSLA is lagging the market slightly.
Tesla's stock increased by more than 2% in pre-market trade on Wednesday. The rise came after the business reported higher vehicle sales in the third quarter's first month.
Possible scenarios for the market :
Scenario 1 :
The market is currently trading near the first resistance line at 762.32, If The Bulls were able to keep control over the market then we will see the price breakout that first resistance and it will push up near the major resistance zone between 771.73 - 783.26 where the Main Battle will take place between the Bulls and the Bears and the outcome will determine the market movement for the next period of time
Scenario 2 :
The market is currently trading near the first resistance line at 762.32, Bears will try to stop this push and they will gather selling power to drop the price down and when that happens the price will drop and will reach the first support zone at 741.38 where the Bears power will be tested and a fight over control will happen and we will see the Bulls going in to control the market again which would push the market price back up to the 771.73 - 783.26 range
Technical indicators show :
Support & Resistance points :
support Resistance
1) 741.38 1) 762.32
2) 729.85 2) 771.73
3) 720.44 3) 783.26
Fundamental point of view :
TSLA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 172.10%, which is quite impressive. And it has a Return On Assets of 3.90%. This is better than the industry average of 1.38%.
An Altman-Z score of 16.16 indicates that TSLA is not in any danger for bankruptcy at the moment.
Julian Lamy has created a new team in TESLA for Energy Trading and Market Operations.
This team will drive the performance of Tesla's global fleet of battery + renewable projects, build expertise in wholesale energy markets, and support the development of Autobidder, Tesla's automated energy trading platform
This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading.
_________________________________Make sure to Like and Follow if you like the idea_________________________________
On August 3 i posted my analysis on the TSLA stock with 2 different Scenarios and warned about a breakout in the market and today we see that the market moved exactly like we thought it would.
Watch how the First Scenario went into action then turns out it was a fake breakout, and then the market moved into the Second Scenario moving to the point like we predicted it to move.
Before :
After :
Now let's talk about the market today. Tesla has been showing great strengths with different technical indicators and moving averages giving us Bullish signs.
Both the short-term and long-term trends are positive. This is a very positive sign.
TSLA is currently trading in the upper part of its 52-week range. The S&P500 Index however is currently trading near a new high, so TSLA is lagging the market slightly.
Tesla's stock increased by more than 2% in pre-market trade on Wednesday. The rise came after the business reported higher vehicle sales in the third quarter's first month.
Possible scenarios for the market :
Scenario 1 :
The market is currently trading near the first resistance line at 762.32, If The Bulls were able to keep control over the market then we will see the price breakout that first resistance and it will push up near the major resistance zone between 771.73 - 783.26 where the Main Battle will take place between the Bulls and the Bears and the outcome will determine the market movement for the next period of time
Scenario 2 :
The market is currently trading near the first resistance line at 762.32, Bears will try to stop this push and they will gather selling power to drop the price down and when that happens the price will drop and will reach the first support zone at 741.38 where the Bears power will be tested and a fight over control will happen and we will see the Bulls going in to control the market again which would push the market price back up to the 771.73 - 783.26 range
Technical indicators show :
- The market is above the 5 10 20 50 100 and 200 MA and EMA (Strong Bullish sign)
- The MACD is above the 0 line showing that the market is in a Bullish state, With a positive crossover between the MACD line and the Signal line.
- The RSI is at 67.20 showing Great strength in the market and almost hitting the overbought zone
Support & Resistance points :
support Resistance
1) 741.38 1) 762.32
2) 729.85 2) 771.73
3) 720.44 3) 783.26
Fundamental point of view :
TSLA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 172.10%, which is quite impressive. And it has a Return On Assets of 3.90%. This is better than the industry average of 1.38%.
An Altman-Z score of 16.16 indicates that TSLA is not in any danger for bankruptcy at the moment.
Julian Lamy has created a new team in TESLA for Energy Trading and Market Operations.
This team will drive the performance of Tesla's global fleet of battery + renewable projects, build expertise in wholesale energy markets, and support the development of Autobidder, Tesla's automated energy trading platform
This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading.