Tesla (TSLA) Stock Rises Despite Disappointing Earnings Report
Following the close of the main trading session on 29 January, Tesla (TSLA) released an earnings report that fell short of analysts' expectations. The company reported:
Earnings per share (EPS) of $0.66, below the expected $0.74.
Revenue of $25.7 billion, missing the forecasted $27.3 billion.
Despite this, Teslas stock chart shows that the candle on 30 January closed around the key psychological level of $400, approximately 2% higher than the previous days close.
Investor concerns over weak quarterly results may have been offset by Elon Musks optimistic outlook, as he suggested Teslas business would return to growth in 2025, driven by:
New, more affordable electric vehicle models.
Progress in autonomous driving technology.
According to Business Insider, Musk stated that:
Tesla will begin testing a paid autonomous vehicle service in Austin, Texas, by June 2025.
The Full Self-Driving (FSD) software will undergo human-free testing in multiple states, including California, within a year.
Tesla is on track to become the most valuable company in the world, with strengthened production lines making 2026 an epic year.
The technical analysis of Tesla (TSLA) stock shows that the bullish momentum (marked by the orange curve), which was supported by the markets reaction to Trumps victory, has already weakened as the price has broken below this trendline. Meanwhile:
The $433 level has acted as strong resistance, turning the price down three times (marked by black arrows), indicating bearish confidence that TSLA is overbought above this point.
The 2025 low around $385 serves as key support, preventing a deeper decline into the long-term rising channel (shown in blue).
TSLAs price may fluctuate within this range until a fundamental catalyst shifts market sentiment.
Analysts, however, remain sceptical about TSLAs outlook. According to TipRanks:
Only 12 out of 33 analysts recommend buying TSLA shares.
The 12-month price target averages $335, below current levels.
Read more: https://fxopen.com/blog/en/oa-tesla-tsla-stock-rises-despite-disappointing-earnings-report/
Text source: Forex Trading Blog
