Tesla: Is this the time to buy?
Fundamentally I am ultra bullish on Tesla. And right now there may be a decent chance to buy.
We have just bounced off the very long term uptrend and I think if it holds, Tesla should move up.
Short term the target would be around 400.
A tight stop loss could be placed right under the uptrend but a conservative one would be around 244, just under the last two bottoms.
Here is a bigger picture view on the setup.
The big risk
The S&P is currently crashing and could fall much lower, this makes a long trade overall problematic
Still I am taking the trade because tesla is a must have and i don't have any at the moment.
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Latter I share with you my vision about it, but the price seems very very very attractive to me
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I posted my point of view in your entrance https://busy.org/@knircky/bounty-show-me-your-best-trade-setup
I would focus on the fundamentals which while attractive from sales perspective, balance sheet and competition will make it tough for the stock to outperform if we have a slowdown in the economy. Love the Company but not the stock. Consider buying the convertible bonds instead...
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Fundamentally they are very steong in my mind.
They have 50% market share and more demand than they can produce.
They compete in a market nobody could break into and they are completely killing the competition.
Have not seen anything like this since apple killed the phone market
That is more branding and intangible but the fact is that they are burning through cash and unless demand remains strong and grows, they may have a cash crunch in the future. They have yet to experience a downturn in the car market so it will be interesting to see how they handle it.
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I have tsla and i am thinking of getting out of it. Mostly because they have hit the federal rebate limit which will have a huge impact on thr sales. They are also trying to cut prices by doing only online sales etc.
Umm have u seen how tesla dominates their market?
Well model 3 is still out of reach for people. Its too expensive even with rebate. On top of that craftsmanship is so sloppy.