 Welcome, traders, to another TickMill Earnings Season Preview with me, Patrick Munray. Before we jump into today's report, as always, we want to adhere to the risk disclaimer. Most pertinent for today's presentation is the fact that the views and opinions expressed by me are solely mine. They are not indicative or representative of those held by TickMill UK or TickMill Europe Limited. Okay, so today we are looking at Tesla. Tesla are set to announce earnings after the close of trade in New York today. The market is looking for an earnings per share of $1.01 with revenue of $0.22.005 billion. I would note there is an earnings whisper on the street that we could see an earnings per share of $1.09. From a metrics perspective, the most important thing obviously for Tesla is vehicle production. As the company's primary business is making electric cars, it needs to continue expanding production to grow revenue and profits. It has become harder to increase production levels amid the supply chain concerns and issues that the globe has been facing. And as the production levels grow, Tesla says it faces new logistic challenges as well, including the difficulty of securing new vehicle transportation capacity at a reasonable cost. This could slow down deliveries and offset gains by increased production and sales. Tesla's vehicle production has slowed due largely to these factors, though a turnaround may be in progress. Carmaker announced that it produced 365,923 vehicles for the third quarter fiscal year 2022, which is up 53.9% year on year. This figures the past analysis predictions. It represents a slight slowdown in vehicle production growth year over year relative to Q3 fiscal year 2021, which posted 64% year over year increase in vehicles made. But to be sure, it is a sharp increase on a sequential basis as a 25.3% year over year improvement in vehicles produced was reported for the second quarter of 2022. So let's take a look at some of the stock trading patterns that we have seen around earnings releases for Tesla. Noticeably, Tesla shares have moved higher in the immediate aftermath of earnings 6 out of 12 previous reports. On average, the stock moved up 1.4% in the first day of trading after the company's results. Based on the previous 12 earnings releases, Tesla is more likely to trade lower one day after earnings for an average loss of 0.8%. On average, the stock has moved higher by 3.5% one week after earnings. From a volatility perspective, the options market is pricing in at 8.5% potential move on the earnings release and the stock has averaged a 6.1% move in recent quarters. From a sentiment and options perspective, there's been 63,392 contracts purchased on the $230 call expiring this Friday. However, options flow in general has been bearish. Investor sentiment going into the earnings has 57.8% of analysts expecting an earnings beat. Tesla's share price has drifted down 90% post its last announcement. Using the last 12 quarters of data, the average drift between earnings announcements is 32.4%. Let's pull up the Tesla chart and see if we can identify some trading levels or opportunities as we come into this earnings release. From my perspective, if we think about that $230 call, we've got a local high at $229 there called back yesterday. I've been looking for any break through that $230 level to engage on the long side. My target will be an equality objective versus this current swing structure and the swing low here at $217. That gives us $242 on the upside. That also coincides with weekly projective range resistance and the weekly R3. That's a nice target to have in mind. If we can take out that $230, I will be looking to engage on the long side, targeting that $242 as the next upside objective. However, if for whatever reason we get an earnings report that disappoints the markets and an unfavorable reaction, any move back down through the lows at $203, I want to engage on the short side, targeting a move down to test the $187 to $185 handle. From there again, I would be watching for any bullish reversal patterns to think about re-engaging at that level for a potential more significant corrective move to playouts. Further updates to follow, but as always traders, plan the trade, trade the plan and most importantly, manage your risk. Until next time, thanks very much.