$TSLA — democratizing charging stations. What’s this going to do to wait times? – February 15, 2023


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I want to look at Tesla ( NASDAQ: TSLA ) here today. For a while, this was really struggling to get through 200.00, and then it did push higher.

The thing is, this blue line here, the 150-day moving average, really the stock couldn’t get through there, it still isn’t through there. It is actually very, very close to the 150 and the 200, which are less than 3 percent apart. So basically, this is bumping its head on a pretty substantial ceiling with these two key moving averages.

It has already had this big move so I wouldn’t really expect it just to blast through. Ultimately, I do think the stock will go higher. But what I was just thinking about today, first of all, here’s what you do, I will cut right to the bottom line. I think you have got to wait for Tesla ( NASDAQ: TSLA ) if you are trying to take a position in it. If you want to just day trade it I will see you at 9:30 tomorrow.

But if you really want to take a position in the stock I think you want to wait for some kind of an outcome with these key moving averages. It would probably be healthiest for the stock if it were just to consolidate at some lower levels below these key moving averages; if it just trades sideways for a while, forms this little kind of a pennant pattern, and then ultimately takes out these.

The thing that was interesting, though, to me was this deal that the White House made with Musk. They say it was with Tesla ( NASDAQ: TSLA ) but it was with Musk. The deal that they made about opening up Tesla’s ( NASDAQ: TSLA ) charging stations to other Evs.

Now, I didn’t really read the details, most of the stuff that comes out of the news these days is lies anyway, or fabrication or whatever you want to call it. But the thing that was really on my mind right away, as somebody in years gone by, has sat at a charging station waiting for one of the hoses to become open because it is sitting right next to a shopping mall and so somebody has plugged in their car and decided to go shopping and have lunch, so you sit there for quite a while waiting.

That was then, but this is now. Look, Musk did Starlink out of the goodness of his heart and he got busted for that. Here, you know he is not going to just say, Oh sure, you guys go ahead and use them on the house. So Tesla ( NASDAQ: TSLA ) will be getting some kind of revenue from this, absolutely, of course.

However, what’s going to happen over the next 6 months or a year, when they start hearing from Tesla ( NASDAQ: TSLA ) owners that say, Your charging stations are unusable because I have got all these other EVs in there and they are taking forever to charge? So there are more customer complaints like that.

I don’t know whether that is going to have a longer-term effect on Tesla ( NASDAQ: TSLA ) or not, but I don’t hear anybody talking about it. Maybe it is just because it is irrelevant and it doesn’t matter. Or maybe just nobody is talking about it. By the way, I am not talking down Tesla ( NASDAQ: TSLA ), I actually have a position in it. It is not a big one, but I do have a position in Tesla ( NASDAQ: TSLA ). I am just waiting for this to play out.

On the technical side, my stuff with the EV charging stations is just me thinking. But on the technical side. If this stock starts pushing through the 150-day moving average, which is currently sitting at about 219.00 and the 200 is at 225.00, if this starts pushing through most of those moving averages I think you will probably get up to 300.00 fairly quickly.

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