 Welcome, traders, to another Tick Meal earning season preview with me, Patrick Munley, before we jump into today's report. As always, we want to adhere to that risk disclaimer. The most pertinent to today's presentation is the fact that the views and opinions expressed by me are solely mine. They're not indicative or representative of those held by Tick Meal UK or Tick Meal Europe Ltd. Okay, let's jump into today's report. We are going to take a look at Tesla. Tesla are set to announce earnings after the close of trade in New York this evening. And the earnings estimate is a 1.128 earnings per share on revenue of 24.669 billion. I would say there is a whisper number on the street that the EPS could come in lower towards the 104 level. Tesla has been cutting prices with its CEO stating that the prices have become embarrassing high and could hurt demand. The Wall Street Journal reported that Tesla's price cuts were drawing mixed reactions from investors and Wall Street analysts alike, with some suggesting that the move was made in response to waning demand, while others viewed it as Tesla squeezing competitors by sacrificing some of its strong operating profit margins, which are larger than most car companies, while also lowering prices, enough to qualify many models for a 7,500 US dollar federal tax credit. Analysts will be looking out for details on demand trends, particularly in China. Shares have come under pressure after the automaker reported disappointing delivery data for Q4. The major worry now ahead for Tesla is that the demand story, especially as of China, is showing heavy cracks in the armor at a time when the electrical vehicle competition is steadily increasing both domestically and abroad. The favored Tesla analysts, Wedbush, have said that with China representing 40% of the global growth story for Tesla, it would be a heavily concerned for the street, which would likely result in more significant price cuts over coming months, to spur demand as a potential pricing war takes place to gain market share in the darker macro backdrop, with global recession fears still looming. Wedbush also comments that they leave investors with more questions than answers on the Tesla story at the moment, particularly since global demand tilts into an uncertain direction for the year ahead. Let's take a look at some of the statistical trading patterns that we've seen around the Tesla earnings releases. Tesla shares have moved lower in the immediate aftermath of earnings seven out of 12 previous reports. On average, the stock has moved down 0.7% in the first day of trading after the company has reported earnings. Based on the previous 12 earnings releases, Tesla is more likely to trade lower one day after earnings for an average loss of 1.3%. On average, the stock has moved higher by 3.8% one week after earnings. Let's take a look at the analyst community and where they're positioned. While they is still a buy amongst the majority of the analysts covering the stock, quite an upside price objective, max upside price objective of $436 per share. The average is coming in at $209 and the minimum price target is $85 for the business. The current level is just below the 150 level. Let's move to the flow and options market and see where sentiment is there. Options traders are pricing in a potential 9.1% move on the earnings. However, stock has actually averaged a 5.2% move in recent quarters. On average, the options market has overestimated the Tesla move 83% of the time in the last 12 quarters. I would note, looking at the options change, there's been significant interest in the $150 call expiring on Friday, 64,783 contracts being bought there. Options order flow in general though has been bearish and investor sentiment going into the company's earnings release has only 29% expecting an earnings beat. Let's pull up the Tesla chart and see if we can identify any near-term trading opportunities. I've been bullish the stock into the start of this year, but we are coming into this heavy resistance zone just below the 150 level. That represents a symmetry swing versus the initial pullback before we saw this big decline into our lows just above the $100 level. It's going to be really interesting to see how price responds here. We know we've got those $150 calls active in the market. What I would say is any move through the 151 level, I want to be long again looking initially for a test of 165. As pullbacks then remain supported into that 150 level, we look for an upside extension into monthly projected range resistance in the 190s. And my ultimate upside ejected would be a test into the yearly pivot at the 210 level. Now, if the stock gets a tepid response from investors tonight and we see some cutting of risk positions, I'd look for any pullback into the 122, 125 area to act as support. That's the high volume load on the four-hour chart here and that resistance before we broke to the upside. Again, from there, I'll watch for bullish reversal patterns to redeploy long positions with the same upside objectives. At this stage, any close back through that 120 level would be of concern opening a retest of the prior cycle lows back into 102. Any close below 102 and I want to be looking at short exposure. We do have a gap below us at the $80 level. That was from the June 2020 explosion to the upside for the stock. So that would become the downside magnet if we get a bearish response to earnings tonight. As always, traders, plan the trade, trade the plan and most importantly, manage your risk. Until next time, thanks very much.