Musk makes Twitter jitter, but what about Tesla?
There has been quite some talk about Elon Musk and his 9,2 per cent stake in Twitter. The story is indeed interesting to follow. However, one should not forget about Tesla, which is set to report its Q1 figures on April 20.
There has been quite some talk about Elon Musk and his 9,2 per cent stake in Twitter. The story is indeed interesting to follow. However, one should not forget about Tesla, which is set to report its Q1 figures on April 20.
According to S&P Capital IQ, the consensus revenue estimate is USD 17.78bn, and the consensus EPS estimate is USD 1.84. That means revenue is expected to grow by 71 per cent compared to the same quarter last year, and EPS to increase by a factor of 4.7. That may seem high, but the estimates may not be too optimistic with a new record set in Q1 2022 in terms of delivered cars.
The guidance on the future is as important as the financial figures and outcome vs expectations. Worries may not be on the demand side, nor the capacity side, as the Gigafactories in Berlin and Texas are both up and running producing cars (or soon to be). However, the lockdown in Shanghai may have caused some production issues.
The Tesla share did not manage to break the falling trendline ahead of the report and is currently trading just above the psychologically important 1,000-level and strong support in the form of MA 100 and Fib 50. Perhaps a robust report and promising guidance can become the trigger needed for the share to break up.
Tesla (in USD) from June 30, 2021, to April 13, 2022
Source: Infront and Carlsquare. Note: Past performance is not a reliable indicator of future results.
Tesla (in USD) five-year weekly chart
Source: Infront and Carlsquare. Note: Past performance is not a reliable indicator of future results.
The full name for abbreviations used in the previous text:
EMA 9: 9-day exponential moving average
Fibonacci: There are several Fibonacci lines used in technical analysis. Fibonacci numbers are a sequence of numbers in which each successive number is the sum of the two previous numbers.
MA20: 20-day moving average
MA50: 50-day moving average
MA100: 100-day moving average
MA200: 200-day moving average
MACD: Moving average convergence divergence
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