TESLA (TSLA): Approaching Oversold State
SUMMARY
I read the biography of Elon Musk and I swear he could be Thomas Edison reincarnate! The Man is a genius and a visionary. Many who are of such calibre will never suffer any fools who hate him just because [insert any meme, insult or jealousy driven reason].
Tesla (TSLA) is channeling and is encased within a pair of parallel lines. Price is currently sitting on the lower trendline and I believe the next move likely is to shoot for the top trendline, once again.
The MACD is approaching an oversold state...does this look like a crash scenario? Would Buying Actions or Selling Actions be taken?
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i love you dude, but comparing elon to edison is a slap in the face to tesla. edison was a well know scumbag
Indeed, probabibly it’s better to compare him to.......Tesla himself.
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Sure he is great guy... I would also be if I were getting so much money from tax payers subsidizing his company.
The profit from his works too!
They are burning cash at an unsustainable rate. Where is the profit?
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One of the best person out there, Elon Musk... A new God of modern days.. Nice!
I disagree. He certain is a visionary. But he is also a massive market manipulator and frequent liar when it comes to Tesla quarterly earnings announcement and his repeated promises to not need more cash and to make certain production targets. I'm frankly surprised the SEC hasn't gone after him for market manipulation. Tesla has an annual burn rate of $3.5B and $3.5B cash on hand. They have around $10B in debt with the first tranche coming due this year. This year the the Government incentive comes off and car buyers will no longer get the incentive when it's 200,000th vehicle is sold. It's bonds are 6 rungs under investment grade signifying deep junk level. He should stick to be a visionary and let someone else manufacture.
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Elon Musk is in reality a reincarnation of Thomas Edison. There is an article with proof on this website -
http://www.iisis.net/index.php?page=thomas-edison-elon-musk-reincarnation-past-life-walter-semkiw-kevin-ryerson
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We had a buying opportunity a couple a weeks ago when price bounced off of monthly demand at $250. If you believe in Elon look to for a pull back on a smaller time frame to go long.
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Looks like a great entry point now.
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Be careful out there. It's certainly possible for TSLA to rally, but it is highly likely they go bankrupt within the next year. Their only chance is to fix the incredible manufacturing issue they have and even then they don't make any profit on any car they manufacture. They could also get a buyout from deep pockets who have what it takes to fix Tesla's issues. If they rally do to being oversold, you may have a short term opportunity, but a very short one. I would exit as they get close to an an RSI of 70, because the next drop could be the final drop.
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I would not bet against Elon Musk. I am long on Tesla.
i don't know of 500,000 people who would pre-order a car from any other carmaker. http://www.thedrive.com/sheetmetal/13007/over-a-half-million-people-have-reserved-a-tesla-model-3
He is also avoiding being short-sighted on filling these orders; his manufacturing needs to be a machine that can scale, not just to current orders but beyond.
I, for one, continue to buy when it dips below $260....