Tesla Stock Faces Selling Pressure Ahead Of Q3 Earnings: 4 Takeaways From The Chart
Portfolio Pulse from Surbhi Jain
Tesla Inc. (NASDAQ:TSLA) is facing selling pressure ahead of its Q3 earnings report. Analysts expect earnings per share of 58 cents on revenue of $25.37 billion. The stock is currently trading below key moving averages, indicating a bearish trend. However, the RSI suggests it could soon be oversold, potentially signaling a bounce. Concerns about global demand, pricing strategies, and CEO Elon Musk's focus on non-Tesla ventures are weighing on the stock.
October 23, 2024 | 1:22 pm
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Tesla is facing bearish trends ahead of its Q3 earnings, with the stock trading below key moving averages. Analysts expect EPS of 58 cents on $25.37 billion revenue. Concerns about global demand, pricing strategies, and CEO Musk's focus on non-Tesla ventures are impacting the stock.
Tesla's stock is currently trading below key moving averages, indicating a bearish trend. The MACD and RSI suggest continued selling pressure, although the RSI hints at a potential bounce if it becomes oversold. Concerns about global demand, pricing strategies, and CEO Musk's focus on non-Tesla ventures are contributing to the negative sentiment. The upcoming Q3 earnings report is a pivotal moment that could either confirm the bearish trend or provide a catalyst for a reversal.
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