Teslas earnings are due out after Wednesday’s close and there are a number of factors to consider. Teslas market share is around 20% of the global EV market at second, only to the Chinese manufacturer, BYD. The popularity of Teslas market share is going to be tested with the latest earnings report and technically Tesla is sitting under a key trend line on the weekly chart with major weekly support below
Seasonally Tesla has seen an average return of over 10% over the last 13 years between October 16 and the end of November. Is this now the time to see a negative result for Tesla as consumers disposable incomes fade with COVID 19 savings levels dropping and job insecurity increasing?
Major Trade Risks:
The major trade risks here is if Tesla’s earnings surprise to the downside and that could result in some significant Tesla selling after the close on Wednesday
Remember don’t just trade it, Seasonax it!