The Long Investor

$TSLA TOP 20

Added 2024-07-23 19:01:04 +0000 UTC

$TSLA reports after the close today so here are my thoughts:

I don't think the earnings report will be flawless and there will be some concerns, especially in terms of margins and sales in China and Asia. I would not be surprised to initially see a flush down to the triangle bottom line at $239 or the 0.38 Fib at $231, stop losses will likely be raided and the price holds above the yellow trend line after the earnings call is complete and Elon gives an optimistic view on Robotaxis, Humanoids and guidance.

Any break above the triangle at $256 and this could fly, $287 would be the initial target at the 2 Fib at $287, please do not expect that to happen today.

The bulls are in the driving seat here, the set up is there to move higher.....if there are any blemishes in the report, it is up to the management team to address them immediately and hold the structure and I think this can be done.

Bear case scenario: losing the $231 level and yellow trend line then the 200 Day MA is the target at $205, impulse count is still valid here as Wave 4 would not infringe upon Wave 2 at all.