Tesla (#TSLA) weekly special report based On 1 Lot Calculation:
GLOBAL EV MARKETS:
- ELECTRIC VEHICLES (EV) MADE AROUND 18% OF TOTAL CAR SALES IN 2023: The EV sector increased its market share from around 4% in 2020 to around 18% off the global car sales in 2023.
- MARKET POTENTIAL: ELECTRIC VEHICLES (EV) COULD BE EXPECTED TO TAKE UP AROUND 50% OF GLOBAL CAR SALES BY 2030. In 2020, the market was worth 160.01 billion dollars. Expecting this number to grow to 823.75 billion dollars by 2030, the EV market could be growing annually on average by 18.6%.
TESLA: EVENTS AND ANALYSIS
- EVENT (EXPECTED: FEBRUART 10, PREMARKET): TESLA MONTHLY CAR DELIVERY IN CHINA FOR JANUARY. Tesla delivered 55,796 in China in December. According to the CNEVPOST, in the fourth quarter, Tesla sold 227,791 China-made vehicles, up 27.90% from 178,097 in the same period last year and up 20.96% from 188,317 in the third quarter.
- Q4 GLOBAL CAR DELIVERY DATA (NEW RECORD OF 484,507 VS. 481,000 expected). Tesla delivered 1,808,581 EVs in 2023, 38% up from 2022.
- Q4 EARNINGS RESULTS: Tesla reported a record high revenue figure of 25.17 million dollars for Q4 of 2023. This was up 7.79% from Q3 of 23.35 billion dollars in revenue. The company also posted an increase in net earnings. The Q4 earnings came in at 2.19 billion dollars, up 7.09% from Q3 of 2023.
DATA SOURCE: BLOOMBERG
Please note that past performance does not guarantee future results.
TESLA: OTHER ANALYSIS
- TESLA LAUNCHED ITS LATEST PRODUCT: CYBERTRUCK (NOVEMBER 30, 2023). According to Bloomberg, the Cybertruck comes in three configurations: rear-wheel drive, all-wheel drive and the so-called Cyberbeast. The cheapest version of the Cybertruck will cost $60,990, which is more than 50% over the price Musk floated when he announced the vehicle in 2019. That version, a rear-wheel drive model with a battery range of 250 miles, won’t be available until 2025. Tesla is offering delivery in 2024 for the two more expensive models, including the Cyberbeast, which has a price tag of nearly $100,000. EXPECTED DELIVERY IN 2024: 100,000 to 120,000. According to analysts, Tesla could deliver 100,000 or more Cybertrucks in 2024, and at least 240,000 in 2025.
TESLA: PRICE ACTION
- THE STOCK HAS TRADED AROUND 55% BELOW ITS ALL- TIME HIGH OF $414.4 (November 4, 2021). Tesla was last trading around $188, and if a full recovery follows to recent all- time highs, the stock could see an upside of around 120%. However, the price could decline further.
- ANALYSTS OPINIONS: Morgan Stanley forecasts $345. Wedbush forecasts $315. RBC Capital forecasts $300. Goldman Sachs forecasts $220.
TESLA: TECHNICAL REVIEW
- TESLA PRICE RANGE: $200 - $270. Tesla has previously tested the level of $200 or near it, three times since May 2023. After testing the area, Tesla would rise back to $270, testing the level (or near it) three times. Tesla is again trading near the lower boundary of $200.
- TESLA TRADES AT ITS LOWEST SINCE MAY 2024: Tesla has fallen recently to test its lowest price May 2023, down from its most recent top of $264.61 (December 28, 2023).
GRAPH DAILY: TESLA STOCK (MAY 2023- JANUARY 2024)
Please note that past performance does not guarantee future results.
#TSLA, January 25, 2024
Current Price: 188
Tesla |
Weekly |
Trend direction |
|
300 |
|
270 |
|
220 |
|
160 |
|
155 |
|
150 |
Example of calculation based on weekly trend direction for 1 Lot1
Tesla |
||||||
Pivot Points |
||||||
Profit or loss in $ |
112,000 |
82,000 |
32,000 |
-28,000 |
-33,000 |
-38,000 |
Profit or loss in €2 |
102,911 |
75,345 |
29,403 |
-25,728 |
-30,322 |
-34,916 |
Profit or loss in £2 |
88,002 |
64,430 |
25,143 |
-22,000 |
-25,929 |
-29,858 |
Profit or loss in C$2 |
151,162 |
110,672 |
43,189 |
-37,790 |
-44,539 |
-51,287 |
1. 1.00 lot is equivalent of 1000 units
2. Calculations for exchange rate used as of 09:40 (GMT) 25/01/2024
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Manager regarding their use.
- You may wish to consider closing your position in profit, even if it is lower than suggested one
- Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more detail