Tesla (TSLA) stock forecast
We stuck with our bullish call when Tesla shares were struggling to hold above $800 and have been rewarded. We remain bullish on the stock in the short term, but we need to keep an eye on some important factors. First, the Relative Strength Index (RSI) is showing as overbought now for Tesla.
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What is Tesla's biggest asset?
Arguably, Tesla’s biggest asset is in the recurring revenue it generates after the sale. It’s more than a car manufacturer – it’s also replacing the gas company. That gives it the green light to expand both horizontally and vertically.
Is Tesla part of the S&P 500?
Now that it’s included in the S&P 500, Tesla is like Ford (automobile), Apple (hardware & software), and Chevron (fuel supply) all rolled into one. Like Rockefeller before him, Musk understands how to turn money into value and wealth.
What happened
Shares of Tesla (NASDAQ: TSLA) rose sharply again on Monday, extending last month's huge run-up for the stock into November.
So what
While the primary reason for the growth stock 's gain on Monday morning may simply be continued momentum from its torrid run last week, two other reports that are circulating could be helping as well.
Now what
Tesla entered the fourth quarter with supply constraints. Shipment dates for some of its vehicles are more than four months out. However, new Model 3 orders in the United States are currently slated to ship in December.
The Motley Fool
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community.
What happened
Shares of Tesla ( NASDAQ:TSLA) moved higher on Tuesday, recovering some of the growth stock 's sharp decline last week. Shares rose as much as 4.3% but were up 2.9% as of 11:40 a.m. EST.
So what
Capturing a bullish day on the Street, the S&P 500 was up more than a half percent as of midday. But some growth stocks like Tesla were up more than a percent. This market momentum likely helped Tesla stock, which is a member of the market-capitalization-weighted S&P 500 index.
Now what
It's not surprising to see some support for the stock after its recent decline. The company's momentum lately has been staggering, with third-quarter deliveries growing 73% year over year. This led to a 57% year-over-year jump in profit and a 389% increase in net income.
What happened
Shares of Tesla (NASDAQ: TSLA) jumped on Thursday. The growth stock was up 3.3% as of 12:50 p.m. EDT.
So what
On Wednesday afternoon, Tesla said its revenue rose 57% year over year to $13.8 billion, driven by a 73% jump in vehicle deliveries. Adjusted earnings per share increased 145% year over year to a record $1.86. These results compare to analysts' consensus forecasts for revenue and adjusted earnings per share of $13.6 billion and $1.59, respectively.
Now what
Importantly, Tesla reiterated its guidance for deliveries to grow at an average annualized rate of more than 50% over "a multi-year horizon." But management warned that its rate of growth will ultimately be dependent on "the successful introduction of many new product and manufacturing technologies in new locations, ongoing supply chain related challenges and regional permitting.".
The Motley Fool
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community.
Tesla stock forecast
Tesla once again used the 200-day moving average to steady itself and find some support. It has not strayed too far from the 200-day moving average all summer. This recent move is bullish with bad news being overlooked by investors wanting to own the stock and buying dips.
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