Despite a larger market gain, Tesla shares fell 4.8% on Monday, going below $200 and reaching its lowest level since late May. The drop was caused by two major factors:
1. Tesla's battery supplier, Panasonic, cut vehicle battery output in Japan during the third quarter, decreasing its annual profit prediction by 15%. This was attributable to a worldwide slowdown in EV sales. Panasonic provides battery cells to Tesla's Nev...

Tesla (TSLA) is about to release Q3 2023 financial results on Wednesday, October 18, after the markets close. As usual, a conference call and Q&A with Tesla’s management are scheduled after the results.
Tesla Q3 2023 deliveries
Earlier this month, Tesla confirmed that it delivered just over 435,000 electric vehicles during the third quarter of the year.
It’s the first time in a long time that Tesla didn’t break a delivery record.
Tesla also produced...

From Thursday and previous sessions, we established a bearish outlook based on the TPO and Volume Profile charts. Friday's session acts as confirmation of that outlook.
The most significant indication of this is the change in interest at 258.9 from Thursday to Friday's session. On Thursday, 258.9 acted as a secondary point of control, as it was the peak of that lower distribution. This means that in that auction range, there was the most interest by both b...

Consumer preferences are tilting toward EVs
Tesla stock is primed for future growth as consumer preferences increasingly favor EVs over other types of vehicles. One factor driving consumer preferences is improved pricing. I have written before in various articles that lithium prices have fallen significantly compared to where they were in 2022.
The fall of lithium prices has been a result of relatively dampened demand in China ...

Tesla delivered 435,059 vehicles in the third quarter, a result that missed Wall Street expectations and was nearly 7% lower than the previous quarter. Tesla said planned downtimes at its factories led to lower production and delivery numbers.
CEO Elon Musk had warned during the company’s second-quarter earnings call that production and delivery numbers would be lower due to the upgrades. Musk said, at the time, that the company was still targeting 1.8 mil...

Tesla reported unimpressive deliveries for the third quarter because of factory downtime. However, the EV maker’s big news might not be in the past, but the future.
There has been growing buzz about TSLA’s Cybertruck being released soon. (Reports like promotional materials being created and more Cybertrucks spotted in public.) This may pave the road to the upside in coming weeks.
There are also potentially bullish patterns on the daily chart.
First, you have the rising t...

Tesla cut the price of some Model 3 and Model Y versions in the U.S. after the company reported third-quarter deliveries that missed market expectations.
The starting price for the Model 3 is listed at $38,990 on Tesla’s website, down from $40,240 previously.
The latest round of price cuts comes just days after Tesla reported third-quarter deliveries of 435,059 vehicles, missing analyst expectations and marking a d...