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Tesla Motors
shares are trading lower by $1.52 at $231.43 in Wednesday's session. The company is set to release Q1 earnings after today's close. The Street is look for EPS of ($0.50) and revenue of $1.04B.
The company is coming off a big miss in Q4 for EPS ($0.13) vs, Est. $0.31 and light on revenue as well ($1.10B vs. Est. $1.23B). That sent the issue tumbling from its February 11 close $212.80 to a low close for the move at $187.50 on April 1.
However, it has staged a recovery as the company has reported better year over year sales and has received and additional boost from the launching of its energy storage unit.
Since posting the low close for the, it was able to close at $232.95 on Tuesday, after reaching $239.50 earlier in the day.
If the report does not meet Wall Street expecations, there may be only minor support levels if its May 1 low ($220.41) is breached until the pair of lows from April 17 ($203.50) and April 20 ($203.85). If the company beats the Street, there may only resistance above its recent high until a series of high from November in the $250 area.
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