Tesla could rally nearly 40 percent, but that doesn't mean it's a buy, technician says

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Analysts are torn on Tesla, but technician Ari Wald says he's still in the negative camp even if he sees a potential 40 percent rally ahead.

div > div.group > p:first-child"> RBC slashed its price target on Monday, suggesting 20 percent downside, and reiterated an underperform rating. Meanwhile, the rest of the Street has an average $335 target, which implies 30 percent upside.

In the past 12 months, Tesla shares have moved as high as $387 and as low as $244.59. It is 34 percent off its August peak, a level reached after CEO Elon Musk falsely tweeted that the company had secured funding to go private. "You can see the flat 200-day that exemplifies that directionless action," he said."If we allocate toward stocks that trend, this isn't one of them."

 

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The giga factory in china is being built faster than we understand, meaning they will be producing for a market bigger than America soon

This is amazingly shit

World growth is slowing and consumers are deferring major purchases. Wise to wait until after the 'correction' before jumping into the stock market or move into assets such as utilities that still maintain earnings during low growth periods. Too early to say the 'R' or 'D' word.

The Pied Piper! BayAreaBS ShortTSLA

Tesla is a buy, what I call a 'Super Buy' in a decade people will wonder how on earth was Tesla so cheap at that time.

That has to be the dumbest headline I have read in a long time.

Great headline. Lol

It is a long term buy. You can buy TSLA today, and in a few years it will be higher.

So the “technician” is against making money 🤔

It could go bust too - has the technician calculated the probabilities of both eventualities ?

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