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Tesla Inc.

Market Opportunities - 24/02/2021

24 February, 2021

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible opportunity for profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

Tesla Inc. weekly uptrend opportunity based On 1.00 Lot Calculation:

  • Tesla Inc. designs, manufactures, and sells high-performance electric vehicles and electric vehicle powertrain components. Tesla sells more than five fully electric cars, among others, the Model S sedan and the Model X SUV, and the Model 3 sedan, which is among the world's top-selling electric cars.
  • EVENT: TESLA STARTED SELLING MODEL Y IN CHINA IN 2021. EARLY REPORTS SHOWED GREAT DEMAND: China Energy Vehicles Sales (includes electric vehicle, plug- in hybrid and fuel cell electric vehicles) rose 281% from year earlier (China Passenger Car Association (CPCA): Tesla may have “explosive” sales growth in China next month on rising production of its Model Y according to CPCA. They publish a car sales report on monthly basis and the next one is estimated to be released on March 12, 2021.
  • TESLA TO START DELIVERING MODEL 3 AND PRODUCING CARS IN INDIA: Tesla will also launch Model 3 in India in June, with bookings to start in January 2021. India is the second largest country in the world by population after China, which could bode well for Tesla’s aspiration to continue to expand globally.
  • ASSET (FUND) MANAGERS OPTIMISTIC ON TESLA: A huge Dutch pension fund, PGGM of Zeist from the Netherlands, which manages $347 billion in assets, to be one of the 15 largest public pensions in the world, bought more than 79,000 shares of Tesla in the fourth quarter. In addition, the famous ARK Investment Fund (run by Cathie Wood) said on Tuesday (February 23) it bought 240,548 stocks of Tesla on “buy the dip” frenzy. This fund manages more than 26 billion dollars.
  • ANALYST OPINION: Bank of America raises Tesla Price Target to $900 a share. Wedbush analyst Deni Ives raised Tesla Prices Target to $950 from $751 (Bull- Case Scenario Target Price $1250). Deutsche Bank raised Tesla Price Target to $900. Research Company Piper Sandler Increased its Tesla Price Target to $1200 from $515. Morgan Stanley increased Tesla Price Target to $880 from $810 a share. Credit Suisse forecasts $800 a share.

Tesla Inc., (#TSLA) February 24, 2021
Current Price: 698

TESLA Inc.

Weekly

Trend direction

UP

Resistance 3

1000

Resistance 2

900

Resistance 1

800

Support 1

600

Support 2

550

Support 3

500

Example of calculation base on weekly trend direction for 1.00 Lot*

TESLA INC.

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

302,000.00

202,000.00

102,000.00

-98,000.00

-148,000.00

-198,000.00

Profit or loss in €**

248,275.64

166,065.16

83,854.68

-80,566.27

-121,671.50

-162,776.74

Profit or loss in £**

213,174.46

142,586.89

71,999.32

-69,175.82

-104,469.60

-139,763.39

Profit or loss in C$**

379,765.00

254,015.00

128,265.00

-123,235.00

-186,110.00

-248,985.00

* 1.00 lot is equivalent of 1000 units
** Calculations for exchange rate used as of 9:43 a.m. (GMT) 24/02/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details

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