TESLA INC. (NASDAQ:TSLA): Tesla stock took a deep dive after UBS lowered Q1 EV delivery and gross margin estimates

 


Tesla stock tumbled over 15% on Monday after UBS lowered their Q1 EV delivery estimates from 437k to 367k. UBS now sees Tesla's gross margins shrinking to 10.3%, compared to 16.4%, during the same quarter a year ago. The bearish "lower-lows" chart pattern resumes after the stock broke the shoulder of the "head-and-shoulders" chart pattern at the end of February, with the price target of $194.81. Coincidentally, a 60% pullback from its high is $195.42.

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!

Comments

Post a Comment

Popular posts from this blog

TESLA INC. (NASDAQ:TSLA): A robotaxi war may be brewing in China

Image
Tesla cleared their first hurdles in China after the company received FSD approval from the Chinese government. Beware though, just days after Elon Musk confirmed Tesla's intent to unveil their robotaxi in August, one of China's largest ride-hailing companies, Didi Chuxing, announced a joint venture with Chinese EV maker GAC Aion to mass produce its own Level 4 robotaxi, per IOT World Today. Didi acquired Uber China in 2016 and has more than 80 million active users in China. The downtrend of Tesla stock remains intact. TSLA needs to break above the key resistance level at $182.33 soon, or else the stock could pull back to below its 50-day EMA. 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!
Read more

BITCOIN (BTC/USD): Bitcoin stuck under trendline resistances at ~ 69k or the Nov'21 high

Image
Bitcoin is stuck under trendline resistances at ~ 69k, or the Nov'21 high. June's macro conditions could provide the next catalyst for bitcoin to make a breakout, per CoinDesk. Be aware, though, that a rejection from the trendline resistances could send bitcoin back down to retest the trendline support ~ 65k. This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!
Read more

Thailand SET Index (NYSEARCA:THD): Beware Thailand SET index could dive below the 1,300 level

Image
The Thailand SET index breakdown, below the long-term trendline support, is confirmed after the central bank decided on Wednesday to leave their key interest rate unchanged at 2.5%. Beware that foreign investors continue to sell Thai stocks as the relative strength (RS) between MSCI Thailand and MSCI Emerging Markets (EEM) has now br oken below the key support level at 1.37. Tighten your seat belts because the next stop for the SET index could be at 1,296.76, or a 30% correction level. 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!
Read more