Technical & Trade View

Tesla (TSLA)

Trade View

  • Bias: Bullish Above Bearish below 220


  • Primary resistance is 220, interim resistance at 190

  • Primary pattern objective is 125

  • Acceptance below 165 next pattern confirmation

  • Acceptance above 220 opens a test of  237

  • 20 Day VWAP bearish , 5 Day VWAP bullish

Institutional Insights 

  • Analysts at Morgan Stanley note ‘Feedback from last week’s Asia Summit in Singapore suggests investor sentiment has turned sharply negative on the global EV market, particularly for China-exposed names. Growth in the SUPPLY of EVs appears to be surpassing growth in DEMAND for EVs into a decelerating global economy. Global battery supply growth is on pace to nearly double to 1.2 TWh (up from <700GWh the prior year). According to a report by Morgan Stanley auto semiconductor analyst Charlie Chan, TSMC’s auto semi wafer output in 3Q22 was +82% Y/Y, and ~140% higher than pre- COVID levels, suggesting supply might have caught up with demand. And according to China auto analyst Tim Hsiao, China's EV sell-through seems to be weakening as sales growth is expected to decelerate to approximately +15% in FY23 vs. +70% in FY22’