Tesla stock false breakdown before earnings | TSLA Technical Analysis, Price Predictions, News


 

Technical analysis, price predictions and news on Tesla stock for week ending 07/24/2021.  After a false breakdown on Friday, Tesla continues to trade within a wedge going into earnings this coming Monday.  I anticipate a breakout of the wedge once record numbers are reported for yet another consecutive quarter.  In my opinion, Tesla’s current price does not reflect just how well the business has been performing and the price is bound to accelerate to the upside as we have seen the previous parabolic run it had had.  Of course, Tesla could remain irrational and selloff on great earnings numbers, but I assign a low probability of this occurring.

 

Tesla news this week includes:

  • Giga Texas way ahead of Giga Berlin
  • Giga Berlin will start production in December
  • Tesla in talks with Mercedes, BMW, Volkswagen, and Opel about sharing Superchargers in Europe
  • Tesla Semi electric truck to begin production soon
  • Tesla continues to dominate EV sales in China for 1H 2021
  • Model Y SR RWD sold out for Q3
  • FSD will have powerful impact on Tesla profits
  • Goldman Sachs: Opening Tesla Supercharger network could net $25 billion annually in additional revenue

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