TESLA: Q3 report coming - how do we trade it?

TESLA: Q3 report coming - how do we trade it?

2020-10-19 • Updated

In the long-term, Tesla’s stock is recovering. It fell from the highs of $500 in August and never got back up there since. Through the course of recent months, the area of $463 has been serving as resistance. Now, Wednesday will be the day when Tesla reports its Q3 performance (21:30 MT time). Will it fly above $500 or fall to $400 this time?

TESLAH4.png

The problem with this stock is that it’s really overheated. Its Price-to-Earnings ratio is really high. That is partially for a reason that investors price in their high expectations of Tesla’s performance in the years to come into the current price. In addition to that, its previous report significantly outperformed the forecast so now investors are waiting for even stronger output. In simple words, to stay at those heights where it is, Tesla has to beat itself. Most investors abstain from recommending buy or sell and agree that holding might be a wiser scenario – primarily because Tesla is just too unpredictable. Therefore, if you want to follow a cautious approach, that may be the wisest strategy. Look for $410 as a bottom to pick up this stock if it drops on the underperformance of Q3 results. Otherwise, if it does well, check for crossing the resistance area above $460 – that would be an indicator to possibly catch the bullish wave.

                                                                                                      LOG IN

Similar

Latest news

ALIBABA: unclear future
ALIBABA: unclear future

On Wednesday, at 14:30 GMT+3 Alibaba reports its quarterly earnings. Will they push the stock?

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera