Zinger Key Points
- Tesla Q1 earnings set for Tuesday as bearish technicals weigh on already slumping year-to-date performance.
- Analysts remain bullish with a $321.67 target, implying 39% upside despite weak near-term technical signals.
- China’s new tariffs just reignited the same market patterns that led to triple- and quadruple-digit wins for Matt Maley. Get the next trade alert free.
Tesla Inc TSLA will report its first-quarter earnings on Tuesday after market hours.
Wall Street expects the company to report 41 cents per share earned on revenue of $21.35 billion for the quarter. Investors are watching closely to see if CEO Elon Musk can jolt the narrative around a slumping stock.
The stock is up 69.93% over the past year but has crashed 36.36% year-to-date.
Let's look at what the charts indicate for Tesla stock and how it currently maps against Wall Street estimates.
Read Also: Tesla Battery Supplier CATL Unveils New Fast-Charging Battery With 323-Mile Range In Five Minutes
Tesla Stock Chart Bearish Ahead Of Q1 Earnings
Tesla stock was trading lower pre-market Monday following reports the company is pushing back the U.S. debut of an affordable Model Y. That’s not exactly the spark bulls were hoping for- and the charts are echoing that pessimism loud and clear.
Chart created using Benzinga Pro
Technically, Tesla stock is in a strongly bearish trend, with the share price below the five, 20 and 50-day exponential moving averages. It's also flashing bearish signals across all major simple moving averages:
- Eight-day SMA: $248.73 vs. TSLA stock at $231.79
- 20-day SMA: $333.49
- 50-day SMA: $276.67
- 200-day SMA: $249.33
The Moving Average Convergence Divergence (MACD) sits at a negative 18.29, signaling more downside, while a Relative Strength Index (RSI) of 37.06 suggests the stock is heading towards being oversold – potentially setting up a bounce if earnings surprise to the upside.
Tesla Stock Analysts Consensus Ratings
Ratings & Consensus Estimates: The consensus analysts rating on Tesla stock stands at a Buy, with a consensus price target of $298.14.
The three most recent analyst notes—from Piper Sandler, UBS, and Mizuho—were all released in April and suggest an average price target of $321.67, implying a 39.07% upside from current levels.
TSLA Price Action: Tesla stock closed the trading day on Thursday at $241.37, down 0.07%.
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