After the close, Tesla will announce her earnings for the 1st quarter:
- EPS is expected $0.85
- Revenues are expected $23.21 billion according to Refinitiv estimates
Analysts are in addition to the earnings will be paying close attention to margins. Today Tesla cut prices on its vehicles for the 6 that time since the end of last year.
Last year revenues came in at $18.76 billion (+24% year on year).
In early April Tesla reported deliveries of 422,875 vehicles in the 1st quarter. Production was slightly higher than deliveries at 440,808 vehicles.
Tesla share's are trading at $183.28 down -$1.07 or -0.58% on the day. The all-time high price reached $414.50 back in November 2021. The low price this year extended to $101.81 (on January 6). The high price this year has reached $217.65 reached on February 16.
Technically the price is currently trading above its 100 day moving average at $171.88. However it also remains below its 200 day moving average of $213.13. The last time the price traded above its 200 day moving average was back on September 22, 2022. The correction higher off the low took the price close to its 38.2% retracement of the move down from the 2021 high. That level comes in at $221.26. Getting above the 200 day moving average of $213.13 and the 38.2% retracement of $221.26 are two upside hurdles needed to be broken to increase a bullish bias. Absent that in the sellers/bears are probably still more in control long-term.
