will support hold at $200 for $TSLA in this market?
I don't think it's possible to know the answer to that question. This morning it already has dipped below $200, but presently is above.The entire market has been sliding, so it's hard to separate any decline in TSLA from the market. It seems to me it's declined more (larger percentage). But the key questions are whether Tesla will deliver quality products per their schedule, and whether larger car companies (Ford, VW, etc) turn their production capacity into EV products. Some are flirting with that, and VW in particular is looking at is as a way out of their TDI mess.IMO, Tesla needs those big boys to stay out of this niche a bit longer so they can iron out the kinks and get better at meeting delivery targets (quantity and on-time). Plus they need to bring the price down. Otherwise they'll get pushed out of the market by its more experienced competitors.That's a much bigger deal than some illusory "support" level.
2 weeks ago I sent to some friends a part-fun, part-serious, crystal ball gaze going 5 years out. Included was a prediction that this year would see a 30-40% crunch to the broad markets; as a serial accumulator of TSLA, I ventured that TSLA would "surely find its way below $200 before I add again".Today we got into the low $190's before rebounding as part of systemic schizophrenia in the markets. Now that the investing public is running off madly in all directions, I feel that the market drop since the new year is the first leg of the crunch I predicted. When it becomes full-blown, all boats, as they say, will drop, but none in more exaggerated manner than TSLA and all the other momentum/tech names that climbed the furthest over the past year or two.TSLA down to $150 or below going through the crunch would not shock me.Indeed I intend to never sell, and hope for the maximum possible drop since I want to get to my full target TSLA holding . It will, of course, be temporary.By 2020 no-one's going to care what happened to TSLA stock price for a few days, weeks or months in 2016, except to be grateful for a stake-building opportunity on a scale not likely to arise again before the world realizes that Tesla is here to stay.So, despite my "add below $200" thought, I expect now to wait until 175-180 or lower, now that I've seen the volatile reaction in a broad market that's only 1/3 of the way to a much bigger trough.Just my personal thoughts mind you, but I've been following the co. since 2010 when I took delivery of one of the first 3 Roadsters to be delivered to Ontario, and have been a progressively increasing shareholder since Apr/13.
I agree that there will be a decent chance to pick up TSLA lower than present prices sometime in the next year or two- recessions can not be put off indefinitely Even if Tesla is selling lots of cars it will be impacted too. Hopefully less than other car companies that are stuck with making mostly commodity vehicles Many institutions (mutual funds especially) have to sell to meet redemptions. They sell those stocks that have markets, throwing out the baby with the bath water. They have no choice.But I have no specific price in mind, having found in the past that all too often a stock would cease it's decline just a dollar or two above my buy order. The ultimate future of Tesla will not be decided in the next year but further down the time line. A rising stock tide lifts all boats. Except the ones that have already sunk....
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