TESLA MISSES Q4 PROFIT ESTIMATES, STOCK TECHNICALS BREAKDOWN
Tesla is currently trading at 299-lower by 3.16% as compared to the previous closing price. The automaker reported its second consecutive quarterly profit on Wednesday and better-than-expected sales, but its fourth-quarter earnings fell short of consensus estimates.
CEO Musk also announced a major change to the electric carmaker’s executive ranks with the retirement of long-time CFO Deepak Ahuja. CFO Ahuja is being replaced by Zach Kirkhorn, previously the company’s vice president of finance
Tesla generated adjusted EPS of $1.93 for the fourth quarter of 2018. The EPS was below the consensus estimates of $2.20. Revenue of $7.23 billion was, however, exceeded the market expectation of $7.08 billion. This is the electric car-maker’s fourth profitable quarter overall since it went public in 2010, and the first time it has reported back-to-back profitable results.
On the technical front, the current price is above the MA5. The current price is below the middle line of the Bollinger Bands and is heading downwards. The current price is below the MA20. The stock is expected to trade lower today.
TRADE SUGGESTION- LIMIT SELL AT 301 TAKE PROFIT AT 295 STOP LOSS AT 304