2 scenarios in this run up to earnings for TSLA.
1. TSLA beats analysts and does really well this past qtr but with the major disruptions in supply chains and China the past couple of weeks, people can begin to price in not so great numbers going into Q4 and take this opportunity to sell the news.
2. TSLA doesn't do as forecasted and undershoots analysts and performed not as expected, this will be followed by a little sell off once those are announced on WED, + supply chains will also be looked at and forecasted into future earnings going into Q4.
On the technicals we have 2 options as well thats being played out.
1. There was a little fake out in the wedge that has the solid base and upper trend and will resume to the downside effectively breaking down and out of that wedge.
2. TSLA is in a channel highlighted and at the very top looking at bouncing down towards the bottom of the channel line.
Bearish divergence on MFI and RSI and currently overbought on the RSI in all timeframes.
That's all folks
1. TSLA beats analysts and does really well this past qtr but with the major disruptions in supply chains and China the past couple of weeks, people can begin to price in not so great numbers going into Q4 and take this opportunity to sell the news.
2. TSLA doesn't do as forecasted and undershoots analysts and performed not as expected, this will be followed by a little sell off once those are announced on WED, + supply chains will also be looked at and forecasted into future earnings going into Q4.
On the technicals we have 2 options as well thats being played out.
1. There was a little fake out in the wedge that has the solid base and upper trend and will resume to the downside effectively breaking down and out of that wedge.
2. TSLA is in a channel highlighted and at the very top looking at bouncing down towards the bottom of the channel line.
Bearish divergence on MFI and RSI and currently overbought on the RSI in all timeframes.
That's all folks