TSLA, GM and F Forecast – US Automakers Look Strong with Earnings Coming

TSLA Technical Analysis

The market for Tesla looks a little bit positive in pre-market, but you also have to keep in mind that we get earnings at the end of the day on Wednesday from Tesla, which obviously will have a major influence on what happens next. The earnings estimate is 56 cents a share with a revenue estimate of $26.54 billion. We’ll have to wait and see where that comes in, but it is worth noting that we are pretty stretched at the moment.

I would anticipate that if we do see a sell-off, the $400 level is likely to come into the potential psyche of the market, offering a little bit of a floor. If we break it down below there, then I think you have a major problem. If we break to the upside, the $480 level is an area that I think opens up a much bigger move, perhaps to $500, maybe even further. All things being equal, though, I like buying dips in Tesla.

GM Technical Analysis

General Motors is off to the races after a very strong earnings call during the Tuesday session. And it looks like we are going to continue to try to climb from here. The market at one point was up about 15%. So, we’ll have to see what kind of momentum GM can continue. But it certainly looks like it’s going to try to go much higher. Short-term pullbacks, especially if we fill this gap at any point and about would be very enticing. But clearly, this is a market you cannot get short of.

Ford Technical Analysis

Ford looks like it’s going to be somewhat flat in the pre-market session, probably opening up about where it closed. Ultimately, though, this is a market that does look like it’s trying to break out to the upside. There is a huge gap. If it ever gets filled, we could be looking at a move to $14, a nice little move indeed. Short-term pullbacks probably continue to see plenty of buyers willing to come into the market and take advantage of cheap stock.

The 50-day EMA is sitting at the $11.72 level and rising. So, all things being equal, this is a market where I think buyers will continue to flood into this market. And it is worth noting that we’ve seen a nice jump during the previous session. It’s worth noting that after Thursday, we get the earnings report coming out of Ford estimated for 35 cents a share and $47 billion.

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