The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
TESLA Earnings Report Outcome Forecast
Information is not investment advice
What will happen?
In a call scheduled for January 25, 00:30 am GMT+2, the Tesla Inc. team will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
How can it affect the stock price?
Tesla Inc. recently cut prices on its most popular models in the United States by 20% to shake off some of the competitive pressure in the EV (Electronic Vehicle) market. As a result, more people are considering purchasing the recently more-affordable Tesla models, thus improving stock yield.
Despite the ongoing trial of the company's CEO regarding his 'funding secured' comments three years ago, analysts forecast a coming surge in Tesla stock prices in a short while. Edmunds, a research data site, states that the number of shoppers inquiring about Tesla products surged right after the price cut, the Model Y and Model 3 especially.
On the Technical side, we see a recent crossing of the 50 and 100 Simple Moving Averages, with the price trading far above the 200 SMA. We may see even higher highs on TESLA, towards the $160 mark as an initial target. However, the price may test the support at the $120 area before the bullish move begins.
The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.
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