Tesla - Earnings in two days! What will happen with price
Event:
On Wednesday we have earnings report from TSLA. Since it's one of the biggest companies on the stock market and it's market cap is 1/3 of all cryptocurrency market, it will be interesting to see what news will bring us
Technical analysis
From technical Point of View we are trading in a range, shown on the chart with bold lines. On top we have local trendline that keeps the price bearish and will act as additional resistance.
What are the expectations?
As we seen global wellfare downturn and China's lockdown which made TSLA factories pause it's production, it's fair to say that expectations are quite low.
If earnings will be good we will squeeze to the trendline and break throught it, likely with a follow up of breaking out of the range.
What will happen?
If earnings report will be worse than expected, price will plumet and either
1. We see trendline false breakout and then squeeze to the bottom of the range
2. We see squeeze to the bottom of the range straight away.
On Wednesday we have earnings report from TSLA. Since it's one of the biggest companies on the stock market and it's market cap is 1/3 of all cryptocurrency market, it will be interesting to see what news will bring us
Technical analysis
From technical Point of View we are trading in a range, shown on the chart with bold lines. On top we have local trendline that keeps the price bearish and will act as additional resistance.
What are the expectations?
As we seen global wellfare downturn and China's lockdown which made TSLA factories pause it's production, it's fair to say that expectations are quite low.
If earnings will be good we will squeeze to the trendline and break throught it, likely with a follow up of breaking out of the range.
What will happen?
If earnings report will be worse than expected, price will plumet and either
1. We see trendline false breakout and then squeeze to the bottom of the range
2. We see squeeze to the bottom of the range straight away.
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