Homepage / Technology / Here's why the bear market may not be over for Tesla's stock
Business Online Solutions What Is a Board Analysis? The Importance of Planning and Programs Development How Board Governance Software Improves Meetings and Governance How to Craft a Successful Board Meeting Reminder Benefits of a Virtual Data Room for Bankruptcy VDR Example for Business Hong Kong ユースカジノの登録方法を初心者にも分かりやすく図解入りで解説 チェリカジ 5 Как быстро пополнить счет в Казино Х в любой валюте Официальный сайт Up X казино и мгновенные игры Paşa Casino Mobil Uygulama 2025 Giriş Üyelik Bonusu Freespin No Deposit Bonus Casino Free Spins In New Zealand What Are The Best Online Casinos For Real Money Pokies And Bonuses In Australia Дэдди Казино официальный сайт Джойказино: информация про официальный сайт Glory Casino giriş için buraya tıkla ve Türkiyede en popüler casino kullanıcısı ol Les Gambling establishments en Ligne en France 2024 200% Reward + 300 Free Rotates LevelUp Internet casino Melbourne En İyi ve Güvenilir Casino Siteleri Canlı Casino Siteleri 2023 Listesi En İyi ve Güvenilir Casino Siteleri Canlı Casino Siteleri 2023 Listesi Le meilleur casino en ligne franзais Extra Casino avec le dйpфt minimal le in addition bas Yeni Casino Siteleri ᐈ Çevrimiçi Kumarhaneler Mart 2024 Les gambling establishments en ligne proposent une grande variйtй de jeux de internet casino gratuits. Türkiye’deki Resmi Web Sitesi Google Play, Türkiye’de kumar oyunlarına izin verecek Her Gün Tatil Olsa ORDU’DA PAZARTESİ GÜNÜ FINDIK FİYATI NASIL? كازينو اون لاين الكازينوهات الممتازة على الإنترنت ألعاب الكازينو المباشرة مينا كازينو العر Google Play, Türkiye’de kumar oyunlarına izin verecek Domain Sorgulama & Domain Fýrsatlarý Canlı Casino Siteleri: 2024 Güvenilir Siteler Seçilmiştir Golden Easter Slot İncelemesi 2024, Demoyu Ücretsiz Oynayın Golden Easter Slot İncelemesi 2024, Demoyu Ücretsiz Oynayın 1xbet Türkiye Giriş Empieza Kayıt 202 Kumar Ve Kumarhaneler Hakkında Pek İlginç 21 Bilgi Kumarhane Doğru Yazımı Nedir? Tdk Ile Kumarhane Kelimesinin Doğru Yazılışı! Mobilbahiste En İyi Kumar Bonusları Ve Kazançlar Mobilbahis Giriş Sayfası On Line Casino Siteleri En Iyi Casino Siteleri 2024 Mostbet: Türkiye’de Internet Casino Mostbet Online Slotlar Ve Canlı-casin Pin Up Casino Oyna Türkiye, Pinup’un Sah Web Sites Ifade Haberleri Son Dakika Ifade Hakkında Güncel Haber Ve Bilgiler “önceliğimiz Transferin Önünü Açmak, Görüştüğümüz Yerler Var” On Line Casino Nuh’un Gemisi Deluxe Resort & Spa, Kıbrıs The Benefits of Document Management Bonus Veren Siteler 3 000 Den Fazla Online Oyunu Ücretsiz Oyna En Tehlikeli Kumar Oyunu Ekşi Sözlük Deneme Bonusu Veren Siteler Deneme Bonusu 2024 Explore the Magic of WildCardCity Güvenilir Bahis Siteleri En İyi Kumar Siteleri Balıkesir Triatlonuna Avrupadan Ödül Tricks of the Aviator gambling establishment game by Spribe Çevrim Içi Kumar Siteleri “bonus” Yalanıyla Kandırıyor En Güvenilir Canlı On Line Casino Siteleri Xbetting-tips Com Uncovering the Abundant Tapestry of Ozwin Gambling establishment Evaluating Board Portal Providers Uncovering the Wealthy Tapestry of Ozwin On line casino Electronic Data Area Providers Evaluation Cobra Internet casino: Raising the Australian On the internet Video gaming Practical experience 4 Things to Search for in Safeguarded Cloud Safe-keeping Fastpay On line casino Australia – Simple and No-Taxation Wagering Web page officielle franзaise de Joka Gambling establishment The Software Development Universe Game Woo Internet casino – Enjoy Slot machine games around australia Ostdeutsche Biersorten What Are Virtual Data Rooms? Vitamin D Receptor Polymorphisms Revue du Casino BlackLabel Faktory, kterй ovlivnujн hodnocenн ceskэch online kasin How to Make the Most of Your Web Development Organization and Advertising Efforts L’essor des casinos en ligne en France Boost Meeting Efficiency With Boardroom Technology Developments WildJoker Casino WildCardCity On line casino – Guaranteed Australian Gambling Portal WildCardCity Casino – The Ideal On the internet Gambling establishment within australia Modern Technologies Produce Sharing Documents Online Faster and More Protect Free Virtual Info Room pertaining to Speedy Due Diligence A Review of Data Area Software For people who do buiness Five Board Bedroom Features Which will help You Acquire a More Productive Boardroom Electronic Systems To your Business Understanding Legal Terms and Laws in Today’s World The Laws and Contracts of Hollywood: A Sunset Blvd. Tale Legal Discussion Between Johnny Cash and Antonin Scalia Legal Insights: What Teens Should Know Legal Issues and Exceptions: What You Need to Know Legal Insights and Expert Analysis Celebrity Dialogue: Legal Matters in the 21st Century Famous Personalities Discuss Legal Issues The Boys in the Boat: Legal Advisors and The Quest for Legal Knowledge Understanding Legal Matters: Q&A on Criminal Law, Joint Ventures, and More Enticing Title The Departed: Understanding Basic Work Requirements and Legal Rights Youth Slang Blog Article Legal Insights: A Journey into the World of Law The Ins and Outs of Legal Matters: Everything You Need to Know Legal Insights and Trends: A Rap Guide Mysterious Legal Matters Unveiled Insights and Information: Understanding Various Laws and Regulations Famous People of the 21st Century


Here's why the bear market may not be over for Tesla's stock

Some strategists say that slumping shares of Tesla could be in for even deeper losses, as the auto maker faces big tests of investor sentiment and its business strategy.

Tesla stock ended its worst weekly run in about a year and a half, dropping over 13 percent this week and briefly dipping into a bear market. The automaker faced down a litany of bad news, including delivery numbers that missed expectations, a set of bearish forecasts, and poor results in a vehicle safety test.

On Friday, the stock managed to pare some of its weekly losses, rising 1 percent to trade above $313 after the company reported in-transit vehicle figures that cheered investors.

From a technical perspective, the stock is hovering roughly $10 to $20 above critical levels, said Oppenheimer head of technical analysis Ari Wald. The stock rocketed from a little over $216 in the beginning of the year to an all-time high near $387 in late June.

With the stock falling 20 percent from those highs, Tesla has entered what some would term a “technical bear market.”

Tesla’s ability to supply cars is key, as the company has “never had a problem with demand,” said Boris Schlossberg, managing director for foreign exchange strategy at BK Asset Management.

“The key question is, are they going to be able to ramp up supply? That is a big Achilles heel, because they have always come up short. So they’re really going to have to step up next year,” Schlossberg told CNBC’s “Power Lunch” this week.

If the automaker can achieve deliveries in the ballpark of 200,000 units, he said, the stock could bounce back. On the other hand, if it continues to “disappoint with supply, that’s when you get into trouble and I think the stock could really sell off hard.”

On Monday, Tesla reported that global deliveries in the first half of the year were at the low end of its own forecast for the Model S and Model X SUV.

Additionally, registrations in April for Tesla vehicles dropped in California, the company’s largest market. According to the findings from IHS Markit, registrations fell 24 percent year-over-year.

Tesla’s mounting woes have prompted Goldman Sachs to lower its six-month price target on the stock to $180 from $190. That implies a 42 percent downside from Friday’s closing price.

“We remain sell rated on shares of TSLA where we see potential for downside as the Model 3 launch curve undershoots the company’s production targets,” analyst David Tamberrino wrote in a note to clients on Wednesday, adding that margins in the second half of the year are likely to disappoint.

“This comes as demand for TSLA’s established products (Model S and Model X) appear to be plateauing slightly below a 100k annual run rate,” he added.

Short interest in Tesla is appearing to rise after declining in June, S3 Research analyst Ihor Dusaniwsky wrote in a note Thursday. Over 400,000 shares were shorted this week alone, he wrote. Though Tesla’s notional short interest exposure dropped, Dusaniwsky observed short sellers were actually not adding to their short positions.

In other words, short sellers were not “actively ‘topping off’ their positions in order to keep their notional exposure stable,” he wrote, but were merely content taking their “unrealized profits.”

Even when short sellers were down over $5 billion in unrealized losses, he continued, “there was no rush to exit their positions.”

He added: “Tesla shorts may be one of the only stocks that is totally immune to a price short squeeze, and with ample lendable stock borrow inventory available, there is little chance of a technical stock loan related short squeeze,” the analyst wrote. A “short squeeze” occurs when a stock’s price is driven higher as a result of short sellers rushing in to cover their positions.

Investors ought to focus on the range between $290 and $300, Oppenheimer’s Wald said this week on CNBC’s “Power Lunch.” He added that Tesla will likely continue working in the long-term — so long as the stock remains above that range.

“The stock was capped below that level from 2014 into 2016. We broke through that level this year. Now we are correcting back; typically the former breakout level becomes support,” Wald said.

“Now we’re slicing down pretty quick. From a near-term trading basis, I would like to see that stock stabilize, and I think you want to see a multi-week, maybe even a multi-month base begin to develop,” the analyst added.

Source: Tech CNBC
Here's why the bear market may not be over for Tesla's stock

Comments are closed.