Tesla (TSLA) Technical Analysis - July 27, 2020

Tesla, Inc. (TSLA) reported blow out earnings on Wednesday and while the stock initially popped, we are now seeing a correction.  Whether this is related to the massive run from $1,000 or the overall weakness in tech stocks, its something we need to watch closely.

Tesla (TSLA) is my top stock to buy right now due to this correction and I will be targeting $1,355 or lower on Monday and Tuesday.  If you recall a few weeks ago, I sold 1/3 of my Tesla position because it rallied so high so fast that I thought a correction was coming.  After all, Tesla (TSLA) stock nearly hit my 2021 price target of $1,800--a price target I might have to upgrade as we get closer to 2021.

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Tesla (TSLA) Earnings Preview - July 22, 2020

Tesla (TSLA) Earnings Preview for July 22, 2020

Shares of Tesla (TSLA) continue to rebound into earnings after a massive $365 drop from $1795.  All eyes are now on earnings which will set the tone into the Battery Day event on September 22nd.

Tesla (TSLA) already announced deliveries of 90,650 vehicles in Q2 despite the Fremont, CA plant being shut down for nearly two months.  If the company can report a fourth consecutive profit, they should finally be added to the S&P 500.  The inclusion into the S&P alone could propel the stock significantly higher but I suspect a lot of big funds already took a position.

Wall St. analyst's are expecting the average numbers below:

EPS - (-$0.71) loss
Sales - $5.14 Billion

Any large beat will light a torch under the stock again.  If the company can deliver almost 91,000 vehicles during stressful conditions and a partial shutdown, imagine what they will report in Q3 2020.  Tesla (TSLA) is about to start a massive growth cycle with new products coming to market in 2021.  All pullbacks remain a strong buy and that is what I plan to do if we see any downside below $1200-$1300.

Tesla (TSLA) Stock Hits New Record High July 2020

July 2, 2020 - Tesla (TSLA) stock is hitting a new record high just two days into July 2020.  Shares of Tesla (TSLA) are currently trading at $1,185 in early pre market, up 6% today.  We are getting close to my 2020 TSLA Price Target of $1,200.

Tesla is expected to report Q2 deliveries this week and Elon Musk has left some hints as to how well they have been doing.

Monday Internal Email - "Breaking even is looking super tight. Really makes a difference for every car you build and deliver. Please go all out to ensure victory!"

Wednesday Internal Email - "Just amazing how well you executed, especially in such difficult times. I am so proud to work with you!"

Wait.....due to Covid-19, Tesla (TSLA) wasn't supposed to be anywhere close to breaking even.  Shares started to climb back over $1,000 on Tuesday and by today, we are seeing $1,185 in pre market.  It does appear like Tesla (TSLA) will beat Wall St estimates on all metrics!

For more of my research, visit my Tesla Page - https://stockstobuy.org/tsla

Tesla (TSLA) Q2 2020 Deliveries in Focus

June 27, 2020 - As the stock market enters a new week, Tesla (TSLA) investors will be focused on Q2 vehicle deliveries.  With the Fremont plant closed for roughly two months, you would think Q2 would be an absolute disaster but this may not prove to be the case.

Initial estimates had Tesla coming in with 60,000-65,000 Q2 deliveries but things appear to have changed in the last three weeks.  Apparently, deliveries have been really picking up toward the end of June and when you combine China to the estimates, Wall St. is now looking for over 80,000.

If Tesla (TSLA) reports anything over 90,000, the stock will explode to a new record high.  With three days left to go in the quarter, the final push is being made as we speak!

Jim Chanos Still Short Tesla (TSLA) Stock

Short seller Jim Chanos, who shorted Tesla (TSLA) in the $200's back in 2015, announced yesterday he is still short the stock even after a 330% rally.  Chanos continues to value the company as a traditional auto maker, not a technology company.

In an interview with Bloomberg yesterday, Jim Chanos said that Q2 revenue will be roughly flat and there was no growth for the past six quarters.  He forgot to mention that the Fremont plant was shut down for two months and 90% of the other NASDAQ companies were affected by Covid-19 as well.  Wall St. always looks into the future and believes many companies will see a rebound in business in 2021.

Here is the interview - https://youtu.be/2CyMubVfsDc?t=369

Here is what he said back in 2018 - https://www.cnbc.com/video/2018/08/07/tesla-short-seller-chanos.html

Tesla (TSLA) stock has made a lot of smart investors look very stupid.  David Einhorn has also shorted Tesla in the $200's and remains short.  Just wait until Tesla starts production of the Semi and Cybertruck.  Wedbush came out with a note yesterday and stated they believe Tesla has 650,000 pre-orders for the Cybertruck.  2021-2022 will be very interesting!

Tesla (TSLA) buys Maxwell Technologies (MXWL) in 2019

February 4, 2019 - Tesla (TSLA) announced plans to buy Maxwell Technologies (MXWL) this morning for roughly $4.75 per share.  This is about a 50% premium to Friday's close.

Why is Tesla (TSLA) buying Maxwell (MXWL) for $218 Million?

Maxwell Tech (MXWL) makes ultracapacitors that are used in automobile batteries to lengthen their lives. They are also used for electric energy storage on power grids.  Maxwell has a vast patent portfolio and Tesla is paying a discount with today's share price vs the $12-$14 per share back in 2014.  From 2016-2018, shares traded in a range between $4.25 and $6.50.

It is very clear, Elon Musk likes Maxwell's technology!

Tesla (TSLA) Stock Upgraded - 2019 Price Target $437

January 31, 2019 - Tesla (TSLA) stock is hovering around $300 per share this morning, fresh off another profitable quarter.  Tesla (TSLA) stock price target was raised to $437 from $418 at Oppenheimer.

Shares would be trading higher but late in the conference call last night, CEO Elon Musk announced that current CFO Deepak Ahuja would be retiring for a second time.  The financial keys will be handed to 9 year veteran Zach Kirkhorn.  This news is pretty boring because they hired a veteran inside the company and most shareholders knew Deepak would retire again at some point.  TSLA shares would be down a lot if they were actively seeking to hire someone from outside.  Mr. Kirkhorn has been on the team for awhile and has a keen sense of the demands of Elon Musk.

As for the earnings report itself, they improved cash on hand by nearly $700 million which was the key metric I always look at.  Tesla will have a large debt payment due in March and the growth in cash on hand will pay for this.  

Its clear that Tesla (TSLA) plans to be profitable every quarter from here on out and they have a great product road map.  The Model Y will start to be produced on a small scale by 2020 and the Chinese Gigafactory will be producing Model 3 vehicles by year-end as well.  Even if we see a recession that may or may not come, Tesla is ready for it.

I strongly feel that later in 2019, we will see one of those straight-up bull runs into the low to mid $400's.  Besides TNA, TSLA is my favorite stock at the current share price.

Tesla (TSLA) Stock Upgraded by Morgan Stalney - $320 Price Target 2014

Tesla (TSLA) Upgraded w/ $320 Price Target in 2014 - @stockstobuy -

Tesla (TSLA) is rising to $230 in early pre market this morning after Morgan Stanley upgraded the stock with a 2014 price target of $320.  I tweeted this might happen yesterday and it looks like I was lucky on the timing.  Shorts are getting crushed and the latest victim has been CNBC guest Doug Kass.  Doug Kass tried to be a hero and short TSLA right before earnings which is something you should never do.  I doubt he will cover today so as long as shorts are holding on for dear life, Tesla shares will continue to rally.  It's when all shorts capitulate and cover, long term holders should be worried and be looking to sell.

Doughtery analyst Andrea James was the first person to upgrade Tesla (TSLA) with a $300+ price target after earnings last week.  She upgraded Tesla with a $325 price target.  Andrea James has been spot on for the past year when she predicted a $200 per share when TSLA was trading at $90.  I think I was the only one that believed her because she had to constantly defend herself on CNBC and Bloomberg.  Her calls on Tesla over the past year have been some of the best predictions I've ever seen regarding momentum growth stocks.

Tesla (TSLA) is now a strong buy below $200 if the stock ever sees another big correction.

Check out more hot stocks in 2014 - Stock Gainers 2014 - Penny Stocks Gainers 2014

Tesla (TSLA) Stock Up on Consumer Reports Award

Tesla (TSLA) stock is rising 2% to $123.25 in pre market after the company received another big time award from Consumer Reports.  Not only is the Tesla Model S the safest car on the planet, it is #1 for owner satisfaction.

http://www.stockstobuy.org/forum/topics/tesla-tsla-safest-car-on-the-planet-top-for-owner-satisfaction

Tesla (TSLA) Stock Upgraded - $170 Price Target in 2014

Tesla (TSLA) Upgraded w/ $170 Price Target in 2014 - @stockstobuy -

Tesla (TSLA) dropped another 10% today to close around $120 which is causing me to upgrade the stock.  Tesla (TSLA) stock has now dropped from $195 to $120 in about 6 weeks.  TSLA has dropped from $180 to $120 in the past 10 days.

Investors with a longer time horizon than a few days should view this TSLA drop as a good buying opportunity.  We could even see this stock return to $160-$170 before earnings in February 2014 as shorts cover ahead of the results.  The long term thesis is still intact and investors who missed the last rally from $105-$195 are receiving a second chance.

- Tesla has heavy insider ownership with the CEO holding almost 29 million shares or 1/4 of the company.  This is rare in a high growth company.

- Elon Musk continues to buy stock and said he was the first in and will be the last out

- At $120, the company becomes a take over target.  Google (GOOG) or Microsoft (MSFT) could easily write a check for $20 billion.

- Short interest is likely above 35% of the float of 79 million shares.

- Today we saw a 10% down day on heavy volume, a sign of capitulation.

- Tesla (TSLA) is oversold on several key indicators.

- Shorts will take profits ahead of earnings in February 2014.

- Elon Musk can easily burn shorts badly by raising guidance or announcing better battery production pre earnings.

Tesla (TSLA) to Build Largest Lithium-ion Battery Factory?

Tesla (TSLA) was recently asked on it's conference call if they are looking into building a lithium-ion battery factory to help with the supply problems.  Elon Musk responded saying that that is something they are considering but that they are not ready to break any news just yet.  He also hinted that it would be built in the U.S.

Tesla (TSLA) stock has dropped from $180 to $135 over the past two weeks after the company reported that demand for the Model S remains strong but battery supply is limited.  Tesla recently signed a larger contract with Panasonic to help with supply.

Panasonic and Tesla Reach Agreement to Expand Supply of Automotive-Grade Battery Cells

Panasonic Corporation and Tesla Motors (NASDAQ: TSLA) today announced that the two companies have reached an agreement in which Panasonic will expand its supply of automotive-grade lithium-ion battery cells to Tesla. With this agreement, the two companies update and expand their 2011 arrangement to now supply nearly 2 billion cells over the course of four years. The lithium-ion battery cells purchased from Panasonic will be used to power the award winning Model S as well as Model X, a performance utility vehicle that is scheduled to go into production by the end of 2014.

This agreement builds upon a multi-year collaboration between Panasonic and Tesla to develop next-generation automotive-grade battery cells and accelerate the market expansion of electric vehicles. Panasonic's cells combined with Tesla's proven EV battery expertise have already enabled more than 130 million customer miles driven in Tesla Roadsters and Model S.

"This expanded agreement with Panasonic is important to Tesla as we continue to increase the pace of production," said Tesla Co-Founder and CEO Elon Musk. "We look forward to strengthening our relationship with Panasonic, and I'm confident that this partnership will continue to be an integral part of Tesla's success for years to come."

Together, Panasonic and Tesla have developed a next-generation battery cell technology that provides the highest energy density and best performance cells in the market. Panasonic's cylindrical cell is a customized technology designed specifically for optimizing electric vehicle quality and life. These cells are integrated by Tesla into the battery pack in a way that enables an industry-leading range of approximately 265 miles for the Model S.

"We are extremely proud to be a strategic partner of Tesla," said Yoshihiko Yamada, president of the Automotive & Industrial Systems Company, an internal company of Panasonic. "Panasonic will increase its production capacity of lithium-ion battery cells to supply Tesla's growing needs as it expands its production of EVs."

Carter Worth on Tesla (TSLA) Stock

Carter Worth on Tesla (TSLA) -

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Carter Worth thinks Tesla (TSLA) can see a counter trend rally off the 150 day moving average to $175 in the short term.  He thinks the stock is due for a 22% rally from $140.

Shares of Tesla (TSLA) have been dropping recently due the media attacking the company due to 3 separate fires which were freak accident, non resulting in injury.  You know what they say, buy low and sell high.  In the $130's, Tesla (TSLA) is very low, down $60 from the recent high.

Tesla (TSLA) currently has resistance located at $145.65.

Also see - Top Stocks 2014 - Top Stock Gainers 2013

Tesla (TSLA) 2014 Price Target $150

Tesla Motors (TSLA) Stock Upgraded with $150 Price Target 2014 -

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Tesla (TSLA) stock is trading above $103 this morning after receiving a $150 price target from Global Equities Research.  The firm sees potential game changing technology coming in the future.  Global Equities says Tesla (TSLA) is creating a new industry that the research house is calling Transport as a Service and could become a $100B business in which the electric-car maker could "easily capture" a 60% share of

Also see - Top Stocks 2013 - Top Stock Gainers 2013

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