TESLA PRICE TARGET LOWERED TO $290.00 BY ROYAL BANK OF CANADA
It seems like the overall price target consensus for Tesla is changing. The link below is a article about Royal Bank of Canada lowering their price target for Tesla from $340.00 to $290.00. Also, Citigroup has lowered Tesla rating from a "neutral" rating to a "sell" rating and cut their price target from $356.00 to $225.00 (from a report issued on September 28, 2018). Goldman Sachs has a price target of $210.00 with a sell rating (from a report issued October 3, 2018).
Is it possible that Tesla may be headed for a rough start for 2019? The company is expected to report earnings on Feruary 10, 2019 for the fourth quarter of 2018. Taking a look at the weekly price chart for Tesla you can see that Tesla has been holding consolidation between $365.00 (resistance) and $300.00 (support). The market in Tesla is holding strength. This is something HueFinancial is expecting to see in the near term. But the longer term move for Tesla seems to be losing steam to break to the upside of $365.00. Right now, the price chart is reflecting more consolidation with increasingly higher probabilities of price moving lower especially as we move closer to their report of earnings.