TSLA - Tesla

[tsptalk]

Tesla is starting to look more like a good short here after the recent lower high... although shorting momentum stocks can be hazardous to your health.

 

[nnuut]

Yep that Tesla is a really HOT CAR. :toung:

 

[tsptalk]

Having one of those days. Everything I'm long is down, and everything I'm short is up. Nothing serious. Just too much red in the account.

Since this is the Tesla thread thought I'd bring it up because I did go short a couple of weeks ago. It's up today but has been a good short since the fire. It's trying to rebound but that looks like a head and shoulders topping pattern.

 

[tbx1203]

I bought some back at $169 on Oct 22nd. Finally getting back to recovering, wanted to wait until they report earnings before I do anything right now.

 

[tsptalk]

Earnings tomorrow. Sounds like we're both gambling.

 

[tbx1203]

I thought you can't call it gambling as long as you do your homework. Lol. I'm thinking that there production numbers should be higher as a result of efficiencies and because they started selling in Europe. There was another report of their sales in California being really good. Who knows maybe that's baked in already.

 

[tsptalk]

OK, I am gambling.

 

[tsptalk]

TSLA is down about 10% after hours after posting a good, not great, earnings report. 0.12 a share vs. 011 est. but the whisper numbers were up near 0.17 to even 0.20.

Now the question is whether there is something in the conference call that can excite the momentum traders again.

It's still above last week's lows so that is what to keep an eye on since there is a bearish head and shoulders and the neckline needs to hold as support - and it's hanging around there right now (~ 158).

 

[tsptalk]

Since this is the Tesla thread thought I'd bring it up because I did go short a couple of weeks ago. It's up today but has been a good short since the fire. It's trying to rebound but that looks like a head and shoulders topping pattern.

H&S breakdown hit its initial downside target of about 125.

 

[tbx1203]

Nice post, thanks! I was looking to buy it back last week. Good thing I didnt! Now I will consider it again.

 

[tsptalk]

This isn't a bullish area, but a dead cat bounce is possible here. I'd look to sell rallies instead.

It's like shorting the S&P now. Fighting the trend and trying to pick a top can be painful. I would know.

 

[MrJohnRoss]

Buy only if you like to catch a falling knife, IMHO.

 

[tsptalk]

Interesting development in Telsa (TSLA)...

 

[tsptalk]

After finding support at the 200-day EMA, Tesla did bounce up to 158, which is near the neckline of its head and shoulders pattern. TA would suggest this would be resistance and so far it has held, although a normal test of the neckline is after the downside target of an H&S break has already been hit.

But I do like it here as a good risk / reward short with a quick stop either above the current short-term descending trading channel (near 151 - 152), or above the prior high near 159 if you want to take more risk. There are gaps on both sides of the current level with the larger one above the neckline.

It's up today giving shorts an opportunity. But don't ignore the warnings of those stop areas, and one is very close. I'm risking a few points for a possible move back down to 120.

 

[law87]

Tom, is this a good buy and hold?
They look like a good company with not really any competition in sight

 

[tsptalk]

Unfortunately, I don't know much about the fundementals. It's a nice idea, but can they be profitable? Don't know. The chart says, "not yet" at the moment.

 

[tsptalk]

We have a mini breakout in TSLA today, but that 160 area is where the rubber meets the road. I will add to my short position in the mid-to-high 150's with a stop a few points above 160.

 

[tsptalk]

This TSLA short had been working swimmingly until about 10 minutes ago. It had fallen all the way down to 137 (last post it was 152) but today they came out with news that they are 20% ahead of sales expectations, and the stock is jumping. We have a possible positive outside reversal day forming (depending where it closes). I am keeping my stop above the previous peak (above 160) so we'll see if investors are really interested, or if the poor chart formation will win out.

 

[tsptalk]

Ouch! Looks like they ran the stops near the close, and I was one of them. Closed at 161 and change.

 

[James48843]

You know what I just don't get?

I don't get why TESLA (TSLA)is trading at $237 a share, with a forward looking PE of 77; on 2.86 billion in sales, with a $- 1.35 LOSS on every share.


While at the same time, General Motors is priced at $31.67 a share, with a forward looking PE of 7, and a positive earnings of $1.56 a share, with sales of $156 BILLION dollars.


TESLA's price makes absolutely NO SENSE to me.