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Why Tesla May Be Driving to Nowhere Fast

Video Credit: The Street - Duration: 02:33s - Published < > Embed
Why Tesla May Be Driving to Nowhere Fast

Why Tesla May Be Driving to Nowhere Fast

Tesla earnings are after the close on Wednesday, April 24, 2019.

It comes as no surprise that many investors will be watching closely given all of the issues with Tesla , production problems and Elon Musk's antics.

The range of estimates is quite wide.

On the positive side it seems the company is looking for strong revenue growth, but if the bottom line is weak some investors may look to that as an ominous sign.

Technically the stock could not be any worse.

The weekly chart shows Tesla at the bottom of a range, from 370 on the upside to 250 on the downside.

This is the third venture down to the 250 mark within a year, and at some point that support will not hold.

We have seen a tremendous amount of selling on the down days, a sign of institutional distribution.

Money flows have been week since the last earnings report, so clearly there is bearish sentiment.

Watch the video above with Bob Lang and Chris Versace, co-portfolio managers of Real Money's Trifecta Stocks.

They tell us why it's all about the numbers and guidance for Tesla!

Related.

The Tesla Dichotomy and How to Respond to It Check out what they're saying about Tesla over on Real Money.

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