Tesla In Trouble
Technical & Trade View
Tesla (TSLA)
Trade View
Bias: Bullish Above Bearish below 220
Technicals
Primary resistance is 220, interim resistance at 190
Primary pattern objective is 125
Acceptance below 165 next pattern confirmation
Acceptance above 220 opens a test of 237
20 Day VWAP bearish , 5 Day VWAP bullish
Institutional Insights
Analysts at Morgan Stanley note ‘Feedback from last week’s Asia Summit in Singapore suggests investor sentiment has turned sharply negative on the global EV market, particularly for China-exposed names. Growth in the SUPPLY of EVs appears to be surpassing growth in DEMAND for EVs into a decelerating global economy. Global battery supply growth is on pace to nearly double to 1.2 TWh (up from <700GWh the prior year). According to a report by Morgan Stanley auto semiconductor analyst Charlie Chan, TSMC’s auto semi wafer output in 3Q22 was +82% Y/Y, and ~140% higher than pre- COVID levels, suggesting supply might have caught up with demand. And according to China auto analyst Tim Hsiao, China's EV sell-through seems to be weakening as sales growth is expected to decelerate to approximately +15% in FY23 vs. +70% in FY22’
Tesla (TSLA)
Trade View
Bias: Bullish Above Bearish below 220
Technicals
Primary resistance is 220, interim resistance at 190
Primary pattern objective is 125
Acceptance below 165 next pattern confirmation
Acceptance above 220 opens a test of 237
20 Day VWAP bearish , 5 Day VWAP bullish
Institutional Insights
Analysts at Morgan Stanley note ‘Feedback from last week’s Asia Summit in Singapore suggests investor sentiment has turned sharply negative on the global EV market, particularly for China-exposed names. Growth in the SUPPLY of EVs appears to be surpassing growth in DEMAND for EVs into a decelerating global economy. Global battery supply growth is on pace to nearly double to 1.2 TWh (up from <700GWh the prior year). According to a report by Morgan Stanley auto semiconductor analyst Charlie Chan, TSMC’s auto semi wafer output in 3Q22 was +82% Y/Y, and ~140% higher than pre- COVID levels, suggesting supply might have caught up with demand. And according to China auto analyst Tim Hsiao, China's EV sell-through seems to be weakening as sales growth is expected to decelerate to approximately +15% in FY23 vs. +70% in FY22’
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