Now that Tsla has convincingly broken the 800 resistance (today was its first full day above 800), the next question is "where's the support", a difficult question to answer until we know where the next resistance will be. I previously suggested 850, but whatever it is, we should know by the last week of October. If it hits 850, support may be 800. If it's under 830, support will likely drop below, maybe as low as 770-780. Pure conjecture.
The cloud computing division is just the most profitable part of Amazon, not the only profitable part. The whole "in another era" trope is just silly....in another era where the internet wasn't growing rapidly, Amazon might not have gone nearly as far. In another era before lithium battery prices were falling rapidly, Tesla might not have gone nearly as far.....and we could come up with hundreds of "in another era...." statements. Every successful company has an element of luck, I'll be the first to admit that having started two of them. But as you'll recall, there were literally thousands of online shopping companies that were started around the same time as Amazon that "didn't invent shopping over the internet" and had the same advantage of money that was "cheap and freely available".....where are they all now? There were massive auto companies around the world that could have built electric cars, and much as I hate Elon I'm about to buy a Tesla because literally none of the offerings by these companies with far more resources and experience can match Tesla in almost every aspect of the car. Amazon and Tesla aren't just lucky and didn't have any advantage that any other company around when they were founded didn't also have, much as it pains me to say that as again I hate Elon and am not a fan of Bezos.
Since I don't know the details of their story, its silly to argue, but I bet well connected relationships are also a huge factor. I know that when it comes to Tesla, Musk pretty much just took over all the work that was put into the T-Zero car. I even had a picture of the yellow roadster on my wall. It had at one point a trailer you can hook up that had a gas engine so it turned it into a hybrid. The roadster was the only thing they had for years of course, so clearly they put lots of work into making the Model S, but that was all down to the engineers. You're right that they needed more than luck, but that other component is usually connections and ruthlessness. Perhaps for a company like Google, they just did search so much better than anyone else, I don't know, and ultimately, I do think that doing things better, easier, cheaper is the way capitalism works, but I'm still not that amazed.
I had said I wouldn't repost my chart until my predictions are confirmed. So there you are: I think we can confidently project Tesla will break 850 next week and may even climb to 900 in a fervor of love (that's my technical analysis) which, once consumed, will take us back down to our new support level that I had placed at 800 based on an 850 resistance level. That will be the signal to buy, because 900+ is most likely before end of year. To put things in perspective, at 900, this will have been a flat year for Tesla investors while its results outpaced even the most bullish production/results expectations. Valuation may be a bit more palatable to those unsure of their trading/investment in TSLA.
It looks like TSLA found its resistance level at 880, which make it a bit more difficult to determine support level, having broken past my expected 850 but falling short of the euphoric 900. In light of stellar Q3 results, I don't see support drop below 800 unless the big fish decide otherwise. I continue to target 900+ for year end, as Berlin and TX start at least symbolic production.
Correction: TSLA bounced back to hit 900 today (I heard the orgasm), which adds to my expectation that support may hit 800 then slowly climb back until Q4 annual results to propel the stock above 900.
https://insideevs.com/news/549357/musk-2018-market-cap-prediction/ Remember Elon Musk's 2018 Prediction About Tesla's Market Cap? Musk said in 2018 he saw the potential "for Tesla to become a trillion-dollar company within a 10-year period.” Posted on EVANNEX on November 20, 2021, by Charles Morris Elon Musk is not known for being conservative with his predictions, and once or twice, he’s been a little over-optimistic about timelines (we’re still eagerly awaiting the driverless New York-Los Angeles journey). Sometimes, however, events overtake even the rosiest projections. When it comes to Tesla’s rise to a trillion-dollar valuation, some of Mr. Musk’s earlier forecasts now look downright timid. Above: Elon Musk stands next to a Tesla Model S (Flickr: Maurizio Pesce) Remember the compensation plan that Tesla unveiled back in 2018? At the time, the New York Times called it “perhaps the most radical in corporate history.” It called for Mr. Musk to be paid only if the company’s market value reached “a series of jaw-dropping milestones,” an outcome that the Times’ “experts” called “laughably impossible,” the “latest publicity stunt” from “a modern-day P.T. Barnum.” Here at EVANNEX, we were a little more sanguine, but even we were somewhat skeptical that the company’s ambitious financial goals would be reached in the time specified. What was this insane, ludicrous, maximum plaid plan exactly? It set a dozen market cap targets, in $50 billion increments, over the following decade. If by 2028, Tesla was worth $650 billion, Elon would get a plump pay packet—$55 billion was the figure thrown around at the time. If Tesla failed to reach this valuation, he would get bupkes. What did that old sideshow huckster say about his chances of plucking the plum? “I actually see the potential for Tesla to become a trillion-dollar company within a 10-year period,” Musk told the Times in January, 2018. Above: A deeper dive into the Hertz deal that helped catapult Tesla's market value above the $1-trillion mark (YouTube: Good Morning America) Well folks, it’s now a little less than four years later. How’s Tesla doing? Pretty well—the company’s valuation recently cracked the $1-trillion mark, making it more valuable than the rest of the world’s automakers. Combined. So, in this particular case, the famous Fanciful Forecaster and denigrated Disregarder of Deadlines actually exceeded his stated 10-year goal by over 50%, in less than four years. A flash in the pan, you will say. A brief bubble, ripe for the bursting. I wouldn’t bet on it. We recently read that Germany, the capital of the European auto industry, has become Tesla’s largest European market, and that Model 3 was the best-selling car in all of Europe in September (according to JATO). But of course, Tesla will never be able to sustain such a level of sales, n’est-ce pas? And even if it does, Big Bad Auto is just about to steal Little Red Tesla’s market share with a new wave of affordable, compelling EVs, oder? Well...I wouldn’t put any chips on that one either. Tesla’s Berlin Gigafactory has not yet begun delivering vehicles, but it’s expected to do so soon. And for all the welcome announcements of EV investments coming out of Wolfsburg and Detroit, the legacy brands are still firmly focused on selling fossil vehicles, and that’s not likely to change for several years. If the future is electric, that future still belongs to Tesla (and hopefully also to newer contenders like Rivian and Lucid). As regular readers know, I have my issues with Mr. Elon Musk, but these mainly have to do with his ill-considered pronouncements on subjects that have nothing to do with Tesla. When it comes to running his car company, he seems to be doing a pretty good job.