Tesla has been trailing this downtrend line (aqua) and its 50 day moving average (blue) falling 36%, underperforming both major indexes SPY & QQQ up 25% and 27% over the same timeframe.
Tuesday 2 April 2024 Tesla reported vehicle deliveries of 386,810 and production of 433,371 potentially signaling a current demand problem. This report was below even the weakest forecast. While it is more than likely a near term problem, it still needs to be factored into the valuation.
Therefore follow the trend line and look out below.
Chart #2: Price Target: $126
Final Thoughts:
$154 looks certain, $126 is dependent on what news surrounds Tesla in the coming weeks, months. If a compact car is announced, disregard target 2.
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Take majority of profits here. Let remaining ride.