Will Tesla manage to climb its way out of the hole dug in 2022, or will it remain where some believe it 'belongs'?

Technicals

From a technical perspective, Tesla’s stock has been on an uprise since the 6^th of January. We can see that on the 4-hourly timeframe, the support has been tested along the trendline, with minor support now sitting at $140.66 and further support at $136.86 (along the trendline). Theoretically, as well as based on the pattern in the past couple of weeks, the price could edge towards the trendline and bounce higher over the next few days. If this fell into place, the stock would face resistance at $146.41. A break above this point may see the price climb towards the $150 level. However, Tesla is expected to report its quarterly earnings tomorrow of $1.16 on revenue of $24.68bn (after market close). Investors need to be wary of this release, as a negative report can crush Tesla’s recent gains. With the ongoing cost of living and recession, Tesla stock has really struggled last year. Elon Musk acquiring Twitter didn’t serve it any justice either, so tomorrow’s earnings can provide the sentiment investors are searching for. Looking at the technical indicators, MACD is currently positive and so is RSI. Then again, RSI suggests that the stock is ‘overbought’ as it reads 73. This would tie in with the potential short-term dip before the bounce higher. But of course, this is dependent on its earnings and investor sentiment for Q1 and Q2.