What does Tesla do?
Tesla, Inc. is a pioneering American company at the forefront of electric vehicle (EV) technology, sustainable energy solutions, and innovation in transportation. Established in 2003, Tesla’s primary objective is to accelerate the world’s transition to sustainable energy.
Tesla designs and manufactures electric cars, including the Model S, Model 3, Model X, and Model Y, which are renowned for their cutting-edge technology, long-range capabilities, and impressive performance. The company also produces energy storage products like the Powerwall, Powerpack, and Megapack, which store energy for residential, commercial, and utility-scale applications.
Furthermore, Tesla is heavily involved in renewable energy generation through its solar energy products, such as solar panels and solar roof tiles. Additionally, Tesla is continuously developing autonomous driving technology, aiming to revolutionize transportation with its self-driving capabilities.
Overall, Tesla is dedicated to reshaping the automotive industry and promoting sustainability through its innovative electric vehicles, energy storage solutions, and renewable energy products.
What has TSLA stock been doing?
Since early November 2021, Tesla stock has been in steady decline. Since the end of 2023 the decline has been accelerating. Overall unless there is a sudden breakthrough (think full autonomous self driving or bad news about its competitors) the long term chart paints a picture of Tesla as not being a great candidate as a long term hold at this time.
Should I Buy TSLA Tomorrow?
How about buying TSLA stock as a momentum trade? Currently the stock is in a decline and is not exhibiting any signs of reversal to the upside.
If using the last high as the next point of resistance, TSLA would have to ideally rise above $205 to be in a position to run up and be great candidate for a momentum trade.
Conclusion: not buying TSLA this week.
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