This electric car company earned $1.86 per share in its latest quarter, surprising Wall Street and analysts who had forecasted -$.42.
Tesla, Inc. (TSLA)
From Shortex Market Letter
52 week high 406.83, 52 week low 176.99
Market Cap: $72.0B, EPS: -4.77, Beta: 0.58
Tesla, Inc. (TSLA) is the designer, developer, builder and seller of electric cars in addition to energy storage products. The company offers its products through its network of Tesla stores and galleries as well as through the Internet. TSLA witnessed higher production levels, increased margins and unveiled its first production facility in Shanghai, China. Its Oct ’19 surprise profit and introduction of its “Cyber Truck” pickup truck is certainly a catalyst for Tesla. Fourth Quarter ’19 earnings to approximate $1.30/shr on revenue of $6.7B.
Technical Picture
TSLA has been trading in death cross pattern since July ’19 in (190-260) range. Its reversal rocketed with an upped-gap (265-290) to exit the death cross with high volume. This ascension continued at (310-323) to (339-345) with a mini-correction. It is being boosted by short-covering to (351-368) with continued upped-gaps of (370-379) to (380-391) to an all-time high of 406.83. Volatile.
*Recommended in Shortex issues #560-17 at 254.29,# 552-16 at 219.68, #547-15 at 239.17,#545-15 at 212.96, # 562-17 at 278.25, #564-17 at 340.2, #573-18 at 348.62, #577-18 at 353.34, #580-18 at 309.25, #581-18 at 345.71, #583-18 at $297.45, #588-19 at 230.44 and #590-19 at 352.92).
BUYING RANGE: 375-406
NEAR TERM OBJECTIVE: 456
INTER MED OBJECTIVE: 501
STOP LOSS: 348
*Price as of intraday 12/19/19
Joseph Parnes, Shortex Market Letter, www.shortex.com, 800-877-6555, December 19, 2019
Errata to December 19, 2019 Daily Alert, iPath Series B Bloomberg Copper Subindex Total Return ETN (JJC 43) and United States Copper Index Fund LP (CPER 18): JJC is not currently a recommendation. “JJC trading volume is quite thin, trading just a few thousand shares per day on average. Volume does pick up when copper begins to move, but we will pass on JJC.”