Mark Newton, a renowned Wall Street analyst, predicted Tesla’s stock price with a technical analysis.

Mark Newton, a renowned Wall Street analyst, predicted Tesla’s stock price with a technical analysis. In fact, I don’t believe in a technical analysis. I think it might be, and I think there’s a 50% chance of getting it right. 50% chance of getting it wrong.
However, I think it’s good to watch for fun. It’s fun to listen to.

Anyway, as Mark Newton predicted, if Tesla hits a new high in the coming summer, I will respect Mark Newton until the end. Please~

Mark Newton’s Technical Prediction Method

• Mark analyzes the stock’s trends, momentum, emotions, cycles, and seasonality.
• Use DeMark indicators to capture sell or buy signals.
• Use the Cycle Finder tool to identify strong cycles based on historical data.
• And anyone in a technical analysis uses the Momentum Indicator (MACD) and Relative Strength Index (RSI) to evaluate the stock’s overbought or oversold status.
• The MACD indicator uses two moving averages and delayed signal lines to determine when to buy and sell.
• The RSI indicator measures the relative strength of the stock, indicating an overbought or oversold status.

Tesla Stock Forecast in the Past

• In February, Mark predicted Tesla stock would fall as low as $142, and that’s actually what happens.
• It noted that if the stock goes above $265, there is room for further gains.
• The stock is currently trading in the $240 range, with the potential to fall as low as $233.

Current Tesla Stock Price Status

• Tesla shares are trading in the $240 range, and the recent low of $233 could serve as an important support line.
• If $233 is broken, it could fall to $222.
• If this support level holds, it can rise back up and reach as high as $300.

Tesla Stock Forecast

• If the stock goes above $265, it could rise to $300.
• Mark predicts the stock is likely to reach all-time highs in the summer of 2024.
• Stocks may be bearish before and after the election, which is historically due to the stock market’s tendency to adjust due to uncertainty during the election.
• Expect a strong rise again after the election.

Stock Price Movement Scenario

1. ** Short-term fall**: Shares likely to test $233 support, which could fall as low as $222 if broken.
   ==> The possibility of falling to 222? This is enough.
2. ** Short-term gains**: If the $233 support holds, the stock could rise again to reach $300.
   ==> I’m also betting that it’ll be $300 after Tuesday’s earnings announcement! %^^

Tesla’s Current Earnings and Outlook

Q2 2023 Earnings Outlook

•Adj. EPS: The expected adjusted EPS for the second quarter of 2023 was $0.60, not significantly different from the previous estimate of $0.58.
•Total margin (Auto Gross Margin): Expected gross margin for Q2 2023 is 16.2%, slightly lower than Q1’s 16.4%.
•Sales: Q2 expected revenue of 444,000 units, a significant increase from Q1’s 384,000.

a long-term outlook

•P/E ratio: The expected P/E ratio for 2024 is 102x and the expected P/E ratio for 2025 is 76x. This is high compared to Tesla’s recent historical P/E ratio.

• EPS growth over the next few years:
  •2024: $2.47
  •2025: $3.32
  •2026: $4.58
  •2027: $5.83
  •2028: $7.28

Other Key Indicators

•Sales Growth: Annual average growth is expected to increase steadily from 2023 to 2028.
•Valuation: Key valuation metrics include Tesla’s current P/E ratio, P/S ratio, P/B ratio, and P/CF ratio.
•P/E: 92.86 (last four quarters), 94.95 (next four quarters), 102.61 (FY24), 76.41 (FY25), 55.39 (FY26)
•P/S: 8.50 (last four quarters), 8.75 (next four quarters), 8.16 (FY24), 6.15 (FY25), 4.40 (FY26)
•P/B: 12.56 (last four quarters), 12.80 (next four quarters), 11.82 (FY24), 8.66 (FY25), 5.65 (FY26)
•P/CF: 73.31 (last four quarters), 51.01 (next four quarters), 53.73 (FY24), 42.75 (FY25), 29.70 (FY26)