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.
- TESLA STARTED SELLING MODEL Y IN CHINA IN 2021. EARLY REPORTS SHOWED GREAT DEMAND: China Passenger Car Association (March 8): The China Passenger Car Association said electric vehicle (EV) sales in February rose more 600% from a year ago (while falling 38% from January), to 97,000 EVs. Tesla Inc. sold 18,318 Shanghai-made Model 3s and Model Ys last month, which Wedbush analyst Dan Ives said is up 18% from January and puts Tesla's China-based sales "on a strong trajectory" into March. Next report (for March) is expected to be released in mid- April, 2021.
- EVENT: NEXT QARTERLY EARNINGS REPORT: April 29, 2021 (EXPECTED). The company is expected to show a stable sales growth, especially in China (Model 3s and Model Y). The company is also expected to stay bullish for 2021 when it comes to car delivery expectations.
- 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: In addition, the famous ARK Investment Fund (run by Cathie Wood) said on February 23 it bought 240,548 stocks of Tesla on “buy the dip” frenzy. This fund manages more than 26 billion dollars. ARK Investment Fund estimates the Tesla shares will rise to $3000 a share by 2025.
- ANALYST OPINION: Goldman Sachs forecasts $835 a share. Bank of America raises Tesla Price Target to $900 a share. Morgan Stanley increased Tesla Price Target to $880 from $810 a share. Deutsche Bank raised Tesla Price Target to $900. Credit Suisse forecasts $800 a share. Wedbush analyst Deni Ives raised Tesla Prices Target to $950 from $751 (Bull- Case Scenario Target Price $1250).
Tesla Inc., (#TSLA) March 24, 2021
Current Price: 660
|
TESLA Inc. |
Weekly |
|
Trend direction |
|
|
900 |
|
|
850 |
|
|
780 |
|
|
550 |
|
|
500 |
|
|
450 |
Example of calculation base on weekly trend direction for 1.00 Lot*
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TESLA INC. |
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|
Pivot Points |
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|
Profit or loss in $ |
240,000.00 |
190,000.00 |
120,000.00 |
-110,000.00 |
-160,000.00 |
-210,000.00 |
|
Profit or loss in €** |
203,124.74 |
160,807.08 |
101,562.37 |
-93,098.84 |
-135,416.49 |
-177,734.14 |
|
Profit or loss in £** |
175,377.06 |
138,840.17 |
87,688.53 |
-80,381.15 |
-116,918.04 |
-153,454.93 |
|
Profit or loss in C$** |
301,987.20 |
239,073.20 |
150,993.60 |
-138,410.80 |
-201,324.80 |
-264,238.80 |
* 1.00 lot is equivalent of 1000 units
** Calculations for exchange rate used as of 10:00 a.m. (GMT) 24/03/2021
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