| | | | Even the crew that wrapped it said it was one of the coolest ones they’ve ever done. It’s a head-turner, and honestly, it makes driving a Cybertruck even more fun!
OK enough about me, let’s talk Tesla, and what could be next for the stock..
Tesla (TSLA) reported after the close Wednesday, and I’ve been keeping a close eye on this one, especially since I own shares. Going into the report, I was admittedly more bullish than bearish.
We had more positive signals stacking up — between the Cybertruck excitement and new energy innovations — and the report didn’t disappoint.
Historically, Tesla can move sharply around earnings, which are largely unknown.
About 71.7% of the time, Tesla drops after earnings, but that doesn’t mean it’s all downside. On average, when it pops, the move is significant — about 33.5% to the upside.
So while the odds of a pop are lower, at around 28%, the reward can be massive.
We could be looking at a potential run to $350 on the first leg, and then a pullback and consolidation that could last a year or so…
And I’ve had $500 in mind as a long-term target for Tesla. The charts are setting up well, so we could be in for a breakout soon.
Earnings are always a gamble, and you never know how things will shake out — but I’m staying long on Tesla — I personally own shares.
For now, I’m strapped in for Tesla’s ride — both literally in my Cybertruck and figuratively with my shares — and we’ll see where things head in the next few days, months and years.
Stay tuned because I think things are just getting started!
Today’s Daily Chart Setup: Churchill Downs (CHDN)
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