TESLA breaking resistance lines and moving up

28 сент. 2021 г.

Hello everyone, as we all know the market action discounts everything :)

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TSLA has been doing great for the last couple of days the stock price jumped from 718.33 and reached 799.38 today. That is an 11% increase in 6 days.
The long and short term trends are both positive. and looking at the yearly performance, TSLA did better than 87% of all other stocks. We also observe that the gains produced by TSLA over the past year are nicely spread over this period.

Possible Scenarios for the market :

Scenario 1 :

The market is trading near 791.36 and nearing the resistance line located at 794.82 if this momentum continues then we will see a breakout from that level that will push the market up where the first stop will be at the 814.84 resistance where the Bears might step in an attempt to drop the price back to the 794.82 level. In case the Bulls were able to keep control over the trend we could be seeing the stock reaching the 849.43 level soon.

Scenario 2 :

When the market reaches the first resistance at 794.82 a battle will happen between the Bears and the Bulls to gain control over the market, In case the Bears were able to strip control from the Bulls then we will see a drop in price that will reach the first support level located at 754.36.
The bulls will step in at that level to take control again and keep the uptrend going which will lead to an increase in the stock value that will reach 794.82 again and from there breaking out and reaching the 814.84 level

Technical Indicators show :

1) The market is above the 5 10 20 50 100 and 200 MA and EMA (Strong Bullish Sign)
2) The RSI is at 69.25 showing Great strength in the market and almost reaching the overbought zone.
3) The MACD is above the 0 line indicating that the market is in a Bullish state, With a positive crossover between the MACD line and the Signal line.

Daily Support & Resistance points :
support Resistance
1) 754.36 1) 784.60
2) 734.34 2) 794.82
3) 724.12 3) 814.84

Weekly Support & Resistance points :
support Resistance
1) 737.08 1) 793.26
2) 699.76 2) 812.12
3) 680.90 3) 849.43

Fundamental point of view :

TSLA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 172.10%, which is quite impressive and the Altman-Z score of 16.91. This indicates that TSLA is financially healthy and has little risk of bankruptcy at the moment.
TSLA's Return On Assets of 3.90% is amongst the best of the industry. TSLA does better than the industry average Return On Assets of 0.02%.

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This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!

Thank you for reading.