TESLA INC. (NASDAQ:TSLA): Tesla stock could bounce off from here or else pull back to retest $207.25

Tesla stock pulled back to retest the July 3 breakout after Elon Musk confirmed that the 8/8 Tesla robotaxi event was delayed due to a design change. All eyes are now focused on Tesla's financial results for Q2 2024 to be released after the market close on July 23. Investors may need to be prepared for the stock to make a big move, up or down, next week. Tesla EV sales in the U.S. have stalled in Q2, declining 6.3% Y-O-Y, while total EV sales in the U.S. climbed 7.3%, per Kelly Blue Book. The stock might not get hit if Tesla bulls can redirect investor's attention from EV sales to the company's fast growing energy storage business.

This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!


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