Tesla had a great run in the last couple of months! It's time to take profit!
Indicators telling us that current valuation of Tesla is overheating. Needs a good pull-back to at least re-test $ 340. If $340 breaks, we will see $ 260.
"In our view, TSLA shares now appear fully valued after a meteoric run-up," Garrett Nelson of CFRA wrote in a Wednesday note. He maintained his $400 price target on Tesla shares but lowered his rating to "sell" from "hold."
"We see the recent China factory start-up weighing on Automotive gross margins in 1H 2020 and U.S. sales being negatively impacted by the recent phase-out of its federal EV tax credit, rising competition and seasonality," he said.
Trading tips:
Buy: TSLA P 21 FEB 2020 $380,00
Sell: TSLA C 21 FEB 2020 $500,00
markets.businessinsi...ed-2020-1-1028806569
Indicators telling us that current valuation of Tesla is overheating. Needs a good pull-back to at least re-test $ 340. If $340 breaks, we will see $ 260.
"In our view, TSLA shares now appear fully valued after a meteoric run-up," Garrett Nelson of CFRA wrote in a Wednesday note. He maintained his $400 price target on Tesla shares but lowered his rating to "sell" from "hold."
"We see the recent China factory start-up weighing on Automotive gross margins in 1H 2020 and U.S. sales being negatively impacted by the recent phase-out of its federal EV tax credit, rising competition and seasonality," he said.
Trading tips:
Buy: TSLA P 21 FEB 2020 $380,00
Sell: TSLA C 21 FEB 2020 $500,00
markets.businessinsi...ed-2020-1-1028806569