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Tesla (TSLA - Free Report) shares have come into focus recently following its latest earnings report. However, the report did little to change overall trajectory and trend of the stock. In this video we will take a closer look at Tesla’s chart to see where areas of potential supply and resistance lie ahead. What are some of the technical factors which are at play right now which are putting the stock under pressure?
A few key moving averages are providing overhead resistance and confirming the downtrend. Both the 200-day and the 50-day are overhead, and both are negatively sloped. That is bad news for the bulls in Tesla. But where are the areas of potential support which could provide entry points?
This Zacks Rank #3 (Hold) currently enjoys a Zacks Value Style Score of C, Growth of B and Momentum of F to help it round out with a VGM Composite Score of C. The Automotive – Domestic industry ranks in the Top 35% of our Zacks Industry Rank.
Over the years, EV maker Tesla has evolved into a dynamic technology innovator. It has transformed the EV space much the same way as Amazon changed the retail landscape and Netflix revolutionized entertainment. Tesla is the market leader in battery-powered electric car sales in the United States, with roughly 70% market share. The company’s flagship Model 3 is the best-selling EV model in the United States. Tesla, which has managed to garner the reputation of a gold standard over the years, is now a far bigger entity that what it started off since its IPO in 2010, with its market cap crossing $1 trillion for the first time in October 2021. The EV king’s market capitalization is more than the combined value of legacy automakers including Toyota, Volkswagen, Daimler, General Motors and Ford.
Over the years, Tesla has shifted from developing niche products for affluent buyers to making more affordable EVs for the masses. The firm’s three-pronged business model approach of direct sales, servicing, and charging its EVs sets it apart from other carmakers. Tesla, which is touted as the clean energy revolutionary automaker, is much more than just a car manufacturer. The firm also makes different kinds of technology like self-driving software, charging stations and battery development, et al. The technology titan has also made inroads into solar and energy storage business.
Tesla operates under two segments: Automotive and Energy Generation & Storage. While Automotive and Energy Generation/Storage operations accounted for 87.7% and 4.8% of the total sales in 2022, respectively, revenues from Services and Others constituted the rest.
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Is Tesla's Chart Signaling a Buy?
Tesla (TSLA - Free Report) shares have come into focus recently following its latest earnings report. However, the report did little to change overall trajectory and trend of the stock. In this video we will take a closer look at Tesla’s chart to see where areas of potential supply and resistance lie ahead. What are some of the technical factors which are at play right now which are putting the stock under pressure?
A few key moving averages are providing overhead resistance and confirming the downtrend. Both the 200-day and the 50-day are overhead, and both are negatively sloped. That is bad news for the bulls in Tesla. But where are the areas of potential support which could provide entry points?
This Zacks Rank #3 (Hold) currently enjoys a Zacks Value Style Score of C, Growth of B and Momentum of F to help it round out with a VGM Composite Score of C. The Automotive – Domestic industry ranks in the Top 35% of our Zacks Industry Rank.
Over the years, EV maker Tesla has evolved into a dynamic technology innovator. It has transformed the EV space much the same way as Amazon changed the retail landscape and Netflix revolutionized entertainment. Tesla is the market leader in battery-powered electric car sales in the United States, with roughly 70% market share. The company’s flagship Model 3 is the best-selling EV model in the United States. Tesla, which has managed to garner the reputation of a gold standard over the years, is now a far bigger entity that what it started off since its IPO in 2010, with its market cap crossing $1 trillion for the first time in October 2021. The EV king’s market capitalization is more than the combined value of legacy automakers including Toyota, Volkswagen, Daimler, General Motors and Ford.
Over the years, Tesla has shifted from developing niche products for affluent buyers to making more affordable EVs for the masses. The firm’s three-pronged business model approach of direct sales, servicing, and charging its EVs sets it apart from other carmakers. Tesla, which is touted as the clean energy revolutionary automaker, is much more than just a car manufacturer. The firm also makes different kinds of technology like self-driving software, charging stations and battery development, et al. The technology titan has also made inroads into solar and energy storage business.
Tesla operates under two segments: Automotive and Energy Generation & Storage. While Automotive and Energy Generation/Storage operations accounted for 87.7% and 4.8% of the total sales in 2022, respectively, revenues from Services and Others constituted the rest.