$370 to $380 seems to be the next big resistance although the share price has blown away the earlier resistance levels. I really dont know what to make of this one anymore.
If ever I was to "go with the flow" the Tesla share price seems to be a perfect example of when to do it. However, I just have a feeling things will not be as easy as some assume in the future. Reference to price wars in EVs is a valid point.
Next support seems to be around the $320 level - if the company real has turned a corner (no pun intended lol) then it might be worth buying in on further weakness. Will Tesla really be profitable and cashflow positive from here on in?
Update on my opinion. When Elon Musk was at the helm nobody quite seemed to believe what the company was saying. Since the SEC became involved it has been a whole different ballgame and there seems to be a better structure to the company. We can probably expect fewer short sharp shock announcements from Elon Musk although he will always be the driving force behind the company. Has the company really turned? Is cash flow now positive? Will profits follow? I think it will be a rocky road but the share price is suggesting consolidation around the $320 level having broken through all resistance levels. Say it quietly, a buy on weakness?
Just been reading about Tesla and sales in Norway - very impressive. In many ways the company seems to be using Norway as a test bed for new innovation and services. EVs and Plug-Ins now account for 52% of new car registrations in Norway.
Just popped my head in to see what Tesla is up to - the share have held up surprisingly well when you consider the choppy markets?
Just when the shares looked to be holding their own that was a fairly sharp sell-off yesterday. Is the liquidity crisis that was centre stage just a few weeks ago really over? Has the market factored in the ever growing competition in the sector and obvious pressure on margins?
Interesting developments in China:- https://www.cnbc.com/2018/11/27/tes...arply-in-october-says-auto-industry-body.html
Normally companies tend to discount China as it is a really hard market to crack but with EVs China is the world leader and a market which is very important to Tesla. If these rumoured figures are confirmed it wont be good news.
