Karl Mergenthaler o

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04/17/2024

Shares may drift toward the $148 level, but nothing major will happen to change investor sentiment. For better or worse, revenue is a factor that could change things.
"I hope (Musk) can use (profit margins) to light a candle of hope...to keep a ray of light,"
Falling deliveries and falling electric vehicle prices have depressed profit margins. Wall Street expects first-quarter operating margins of about 6%, down from 11% in the first quarter of 2023 and 19% in the first quarter of 2022, according to FactSet.

04/17/2024

Monday's losses took Tesla below so-called technical support at $164 a share. When prices break out of a support level, which is the price at which investors have been willing to buy in the past, it leaves investors looking for the next level where the decline might stop. $148 represents the next support level.
At present, I personally will not make fundamental judgments on stocks. Study price charts to figure out where a stock is going in the short and medium term. Techniques like this use moving averages, percentages of prior returns, and other data metrics to calculate where a particular stock will move next.

04/17/2024

How low will Tesla’s stock price drop this time? This is a technical analysis
Tesla (TSLA.US) shares continued to fall on Tuesday after closing below important support on Monday, April 15. As the company's first-quarter earnings report approaches, recent changes in the stock price have investors wondering where the stock will go.
Tesla shares closed at $157.11 on Tuesday, down 2.7%, while the S&P 500 and Nasdaq Composite fell 0.2% and 0.1% respectively. Tesla's stock price has not been below $160 since May 2023, after news broke that Tesla would lay off more than 10% of its more than 140,000 employees.
After Tuesday's decline, Tesla shares are down about 37% so far this year. Currently, the electric car maker trades at about 44 times its projected 2025 earnings per share. At the start of the year, it traded at about 65 times earnings, according to FactSet.

04/17/2024

U.S. stock futures edge higher as corporate earnings return to focus
Market confidence rebounded on Wednesday, boosted by the good performance of some large European companies. At 8:14 New York time, S&P 500 futures rose 0.3%, while Nasdaq 100 and Dow futures rose 0.2%. Stocks may be poised for a rebound after the S&P 500 fell for a third straight day on Tuesday, closing near a two-month low. U.S. Treasury yields have retreated from year-to-date highs and a measure of the dollar ended a five-month winning streak after hitting a five-month high. With expectations for a rate cut from the Federal Reserve lowered, investors' focus turns to corporate earnings as the next potential catalyst for a rally in stocks.

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