Tesla (TSLA) Stock Looks Bullish As Earnings Are Due Next Week

After a huge rally over the past year or so, Tesla Inc (NASDAQ: TSLA) stock has been trading within a range of about $600 to $760 over the past month. However, TSLA stock has corrected about 17% from its all-time high of $900.40.

Tesla (TSLA) Stock Looks Bullish As Earnings Are Due Next Week

Considering the market capitalization of $715 billion, there is no doubt that TSLA is the most active bluechip stock, unlike AAPL, GOOGL, or FB stock. One should not note that the stock has recovered almost 35% from its low of near $550 in early March. The recent recovery has taken the stock above its 50-Day moving average price of $700, which is bullish for the short term.

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So where can the stock move after the recent breakout? Well, the next biggest trigger would be the company’s first quarterly earnings. The electric vehicle behemoth will report its quarterly report card on Monday, April 26 after the markets close. Analysts are estimating the company to report an adjusted profit of 74 cents a share, compared to an adjusted EPS of 25 cents a share a year ago. Revenues are estimated to be at $10.43 billion, up from $5.99 billion a year ago. The chart set up looks bullish for TSLA stock, but all eyes would be on upcoming earnings and we may see a volatile move.

Uson Abdilazhanov

Editor and Computer Expert A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.