TSLA daily
TSLA monthly
Summary
re: earnings. Q3 EPS was -$2.92, even worse than consensus.
Lets be clear, the company is a cash hungry monster, as its still in the early phase of a massive production ramp for the Model'3. Even CEO Musk predicted the current 'production hell'.
Technically, you can see via the monthly chart, how the $280s are very important. The $280s used to be resistance until a breakout in April. Now they should act as support.
To be clear, any monthly close under $280 would be exceptionally bearish, and offer downside to the 200/185 zone. This is interestingly close to Goldman Sach's new target of $205.
For the record, I do NOT expect such a bearish monthly close. Instead I expect some weeks of chop, but then rebounding on the semi-truck reveal, due within 3-6 weeks.
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In many ways, I just wish Elon would stick to rockets...
Even if you have little interest in the public or private space program, the following short video is rather important to see...
The December launch of Falcon heavy will be a massively important event.
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The following is from two years ago, but it gives credence to the notion that Musk is someone to take seriously...
Yours truly does indeed consider Musk a visionary. I hope Tesla can push forward and solve its production issues, if only to take some of the pressure off the guy!
Bullish SpaceX... to the moon.. and beyond.
