$F TOP 20
Added 2023-10-08 16:28:21 +0000 UTC$F battled for the last 2 weeks to stay in this bull flag, in spite of mounting pressure from its strike action from its employees.
Repeated negative media battles and a substantial report that they were losing $35000 per each EV vehicle made, has not helped either.
We were always concerned about the amber Wave B in July but it was still valid, so if we make a new low next then Wave 2 is not complete yet and this does look weak right now....the yellow trend line at $11.50 needs to come to the rescue next.....otherwise we can not disregard the potential decline into the buy zone under $10.60.
Comments
People forget that TSLA was losing money until few years back, they had lost bilions before turning positive. Deferece between traditional and New company, traditional companies are trying to divert ICE engine profits for EV growth, so obviouly they will have lose and they are showing in accounting. You have to look, is company overall showing lose bottom line profits including overall business or lose? If they are showing lose then something to worry because they won't be able sustain. Once traditional companies start increasing EV cars, they will show profits. Media and analysts drives stock prices and eventually they finds another topic to chew and complain. Look at TSLA how much money they are reducing prices to mantian sells. They are also having such hard time selling vehicles in current market. Their margins are coming down faster this year. They had few years back 32%, now last qtr came down below 18%, and watch for this qtr, they will have below 15%. I have been auto industries for last thirty years. Current Big three are much better shape than 2009. Financially, they have lot more cash holding and invetories are much less, so they won't have give much discounts during down time. I am very much familiar with Ford finance, they have so much cash holding and same with Stellantis. Hope this helps!
Shailesh Patel
2023-10-08 19:46:20 +0000 UTCBullish engulfing daily candle printed on Friday
Saad A
2023-10-08 16:30:43 +0000 UTC
