Are you looking for a good time to invest in Tesla stock? The electric vehicle giant has seen its share price plummet after its fourth-quarter earnings report. But is this a temporary setback or a sign of trouble ahead? In this article, we’ll look at a long-term technical chart that suggests Tesla stock could be a buy after the recent sell-off. We’ll also examine the fundamentals of Tesla Stock and the catalysts that could drive Tesla’s growth in the future. If you’re interested in Tesla stock, you don’t want to miss this article.
Tesla Stock Drops After Q4 Earnings
Tesla, Inc. (NASDAQ: TSLA) shares plunged on Thursday after the company reported its fourth-quarter earnings and recovered slightly on Friday. The stock is now in the oversold territory, which could make it a bargain for investors.
What Happened: Tesla closed Thursday’s session at $182.63, down 12.13%, according to Earn Money data. This was the lowest level since May 25, 2022. The stock gained 0.34% on Friday and finished at $183.25.
The 14-day relative-strength index of the stock indicates that it is oversold.
Tesla Stock Follows A Long-term Upward Trend
A post on Stocktwits revealed that Tesla’s stock has maintained a long-term upward trend line despite the drop. The chart, which goes back to the beginning of 2020, shows that every time the stock hit this trend line after a crash and formed a long-tailed candle, it rebounded strongly.
A long-tailed candle means that lower prices were rejected.
Tesla Stock Faces Near-term Challenges But Has Long-term Potential
Tesla is facing a slowdown in the near term without any significant catalysts, though price changes in its vehicles may cause some fluctuations. The stock could get a boost in the near term from the first-quarter delivery numbers expected in early April or any news about the company’s next-gen electric vehicle, the Giga Mexico factory timeline, or the India launch.
After the fourth-quarter earnings release, analysts have lowered their expectations and price targets for the company and the stock. However, the average analysts’ price target of $222.36, based on data from TipRanks, implies a more than 21% upside potential.
Tesla Stock: A Buy Or A Sell?
Based on the long-term technical chart, Tesla’s stock could be a buy at the current levels, as it has bounced back from the trend line several times in the past. However, investors should also consider the fundamental factors and the near-term risks that could affect the stock’s performance.
Tesla’s stock is not for the faint-hearted, as it is known for its high volatility and unpredictability. Therefore, investors should do their own research and due diligence before making any investment decisions.
Tesla Products: Innovative, Efficient, and Eco-friendly
Tesla’s products are not only vehicles but also energy solutions that aim to reduce the environmental impact of transportation and power generation. Tesla’s products have many features and benefits that make them stand out from the competition. Some of these are:
Innovative design: Tesla’s products have a sleek and futuristic design that reflects their advanced technology and performance. They also have a minimalist and user-friendly interface that relies on a large touchscreen and voice control. Tesla’s products are constantly updated with new features and improvements via over-the-air software updates.
Efficient performance: Tesla’s products have a high efficiency and low maintenance cost compared to conventional vehicles and energy systems. Tesla’s products use electric motors and batteries that deliver instant torque, fast acceleration, and long range. Tesla’s products also have a regenerative braking system that recovers energy and extends the battery life. Tesla’s products have fewer moving parts and fluids than internal combustion engines, which reduces the need for frequent service and repairs.
Eco-friendly impact: Tesla’s products have a positive impact on the environment and society by reducing greenhouse gas emissions and air pollution. They run on electricity, which can be generated from renewable sources such as solar and wind. Tesla’s products also have a low carbon footprint, as they are made from recycled materials and use a closed-loop battery recycling system. Tesla’s products also support the transition to a sustainable energy future by providing energy storage and grid services.
Conclusion
Tesla’s stock has fallen sharply after the fourth-quarter earnings release, but it has also followed a long-term upward trend line. The stock could be a buy for investors who are willing to take the risk and hold for the long term, as the company has a lot of growth potential and innovation. However, the stock could also face more challenges and uncertainties in the near term, so investors should be cautious and prepared for any outcome.