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This Day Trader Sees Pullback For Tesla Motors Following Earnings

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This Day Trader Sees Pullback For Tesla Motors Following Earnings

Tesla Motors Inc (NASDAQ: TSLA) shares are likely to drop after the company posts earnings after the bell Wednesday, according to day trader Anne-Marie Baiynd.

"It's fun to trade, but I gotta tell you, the formation is suggesting a pullback is what we're going to see at the earnings space" Baiynd told Benzinga Wednesday.

Baiynd, who wrote a 2011 instructional book on day trading, offers related training with a lean toward technical analysis via her website.

Tesla shares are off nearly 20 percent in the past six months amid questions related to falling oil prices and its strategy for sales in China.

Tesla changed hands recently at $210.17, down $6.12.

Wall Street analysts on average expect Tesla to post adjusted earnings of $0.31 cents a share on sales of $1.23 billion.

"This one really can surprise in all kinds of crazy ways," Baiynd said of Tesla. "And it can reverse off those of surprises very quickly. This is a tough one to expose yourself to prior to earnings release."

But Baiynd also advised investors that the electric automaker's earnings release "could be an opportunity to do something like a long iron condor, or some-kind-of-something that doesn't have too much exposure on the short side."

Check out the rest of Anne-Marie Baiynd's outlook in the video below:

Latest Ratings for TSLA

DateFirmActionFromTo
Feb 2021Morgan StanleyMaintainsOverweight
Feb 2021Piper SandlerMaintainsOverweight
Jan 2021Deutsche BankMaintainsBuy

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StockFirmActionPT
KRYSHC Wainwright & Co.Maintains103.0
OTRKRBC CapitalDowngrades32.0
EVHCanaccord GenuityMaintains24.0
BMRNCanaccord GenuityMaintains91.0
ONTFCanaccord GenuityInitiates Coverage On65.0
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