Market Up, Tesla (NASDAQ:TSLA) Down

Market Up, Tesla (NASDAQ:TSLA) Down

Market Up, Tesla (NASDAQ:TSLA) Down


Tesla (NASDAQ:TSLA) closed Thursday in New York at 289.46, moving down 0.35% from the priortrading session. This change lagged the S&P 500’s 0.53% gainer on the day.

Elsewhere, the DJIA gained 0.57%, while the tech-heavy NAS Comp added 0.75%.

Coming into today, shares of the electric car maker had lost 14.22% in the past month. In that same time, the Auto-Tires-Trucks sector lost 2.79%, while the S&P 500 gained 2.16%.

Investors will be hoping for strength from TSLA as it approaches its next earnings release, which is expected on 7 November 2018, still almost 60 days away.

On that day, TSLA is projected to report earnings of -0.68/share, which would represent year-over-year growth of 76.71%. Our most recent consensus estimate is calling for Quarterly revenue of $5.55-B, + 85.88% from the same frame last year.

Looking at the full year, the consensus estimates suggest analysts are expecting earnings of -6.60/share and revenue of $19.48-B. These totals would mark changes of +23.79% and +65.66%, respectively, from last year.

Investors should note any recent changes to analyst estimates for TSLA.

These revisions typically reflect the latest short-term business trends, which can change often. As a result, interpretations can be positive or negative estimate revisions for the company’s business outlook.

Example: Elon Musk, Tesla’s CEO said a Tesla could drive itself across the country by Y 2018, just as crashed backing out of a garage.

No one was hurt, but its owner was really rattled.

The luxury EV failed disastrously, during the simplest of maneuvers, using 1 of the most basic features from the self-driving technology, 1 that the owner and his family has to trust at higher speeds.

The crash is an embarrassing incident for a technology Tesla’s CEO Musk unveiled in Y 2016 to great fanfare, saying it would soon allow owners to hit a button and have their cars drive across the country to meet them, recharging along the way. Hummm!

The trend from my 3 Key indicators are Very Bearish.

Symbol Last Trade Date Change Open High Low Volume
NASDAQ:TSLA 289.46 13 September 2018 -1.08 288.02 295 285.18 6,340,300
HeffX-LTN Analysis for TSLA: Overall Short Intermediate Long
Bearish (-0.41) Bearish (-0.38) Bearish (-0.38) Bearish (-0.47)

Have a terrific weekend

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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