Tesla Stock Forecast –
Tesla stock forecast, Tesla is an American automotive and clean energy company based in Austin, Texas. Tesla designs and manufactures electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services. Tesla was founded in July 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors, the company’s name is a tribute to inventor and electrical engineer Nikola Tesla. In February 2004, via a $6.5 million investment, Elon Musk became the largest shareholder of the company. He has served as CEO since 2008.
Tesla Stock Quote –
Stock Price: $909.25
Market Cap: $941.99 Bn
PE Ratio: 122.87
52 Week Range – $546.98-1243.49
Key Takeaways From Tesla Results –
- Strong revenue and strong earnings.
- Earning per share of $3.22 and revenue of $18.76 Bn.
- Automotive revenue of $16.86 Bn, 87% rise YOY.
- Energy generation and storage revenues came to $616 Mn.
- Automotive gross margins jumped to 32.9% with gross profit of $5.54 billion in its main segment.
- Strong revenue growth due to increase in the number of cars delivered, and an increase in average sales prices.
- Net income of $3.3 Bn.
- Company delivered 310,048 vehicles to customers worldwide in this quarter.
- Regulatory credits accounted for $679 million of automotive revenue for the quarter.
- Three-week shutdown in Shanghai may have cost the company up to 50,000 units worth more than $2 billion.
- Tesla’s global vehicle inventory dwindled to a three-day supply from eight-day supply YOY due to pandemic, inflationary pressures, semiconductor chip shortages and war.
- Solar deployments dropped by nearly half to 48 MW in the first quarter of 2022 YOY.
Tesla Stock Technical Analysis –
We will use top down approach for Tesla stock forecast.
1. Weekly Chart –
The above weekly chart shows that price broke the long term bullish trendline support. Also the price is taking support of weekly 50MA. The upper trendline shows the resistance level. The next support level are $699.44-769.41. The 2nd support levels are $538.73-598.30.
2. Daily Chart –
The above daily chart shows that the price is taking support of trendline. The daily 50MA is acting as a resistance. The support levels are $758.04-779.58 and the resistance levels are $994-1036.
3. Hourly Chart –
The above hourly chart shows that the price is making ascending triangle. The resistance levels are 916-934.77 and trendline is acting as a support.
The above charts shows tesla stock forecast.
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