Per gloomy earnings, TSLA had gone over -6% after hour, reaching below 170 level. With negative outlook, missing revenue and margins, sell-off would likely occur. In my opinion, I believed that 170 level was the hard support level that needed to break for further decline. I expect to see low 160 levels then start consolidating around high 160 to low 170 by Friday. If bullish trend is strong, I would assess we would see mid 170. Nevertheless, with bad conference call and missing margins, I would think investor sentiment towards TSLA would be bearish so I suspect we could possibly see 140~150 level at the LOWEST. Anything below this is for sure a recovery in my opinion, due to excessive sell off. But then again, it might trade around that level for the next 3 months before the next earnings. I think this because of the key here was the margin. If the margin had THAT much spread between the analyst forecast and the actual, short-term growth for TSLA is difficult in the current market condition. Lots of opportunities here.
