At the moment you could forget that Elon Musk is the boss of the American electric car manufacturer Tesla.

For one, he entered world politics with his proposals to end the war in Ukraine while campaigning for the Republican Party in the United States.

Of course, his activities around Twitter are also closely monitored.

After the takeover of the short message service, there are massive job cuts, while Musk plays with all sorts of ideas on how Twitter could make more money in the future.

Investors always realize that he has something to do with Tesla when the richest person in the world sells shares in the electric car manufacturer.

The news situation unsettles investors

SEC filings show that Musk sold 19.5 million Tesla shares worth approximately $3.95 billion between November 4 and 8.

He had promised in August not to sell any more Tesla shares.

Previously, Musk's billion-dollar blocks of shares had come onto the market in April and August.

Share sales have totaled more than $19 billion since April.

The sales aren't too surprising, however, as Musk had to steer more than $22 billion himself for the $44 billion Twitter acquisition.

But it's also not surprising that these sales weren't good news for Tesla's share price.

However, the price also came under pressure around the publication of the figures for the third quarter and the release of the latest sales statistics at the beginning of October.

Between July and September 2022, Tesla delivered 343,000 vehicles, but analysts had previously expected more than 359,000 cars.

Tesla also explained this with its own efforts to better balance deliveries within a quarter.

In China, on the other hand, the group was able to come up with record deliveries in September, while production capacities are even being expanded in Shanghai.

In addition, Tesla now wants to dance at several weddings.

In addition to the sale of electric cars, one of these should be the “robotaxis” business in the future.

Modesty is not for Elon Musk

Accordingly, Elon Musk had no reason to be more modest.

During the earnings call, he said demand was "excellent" and that with factories running at full speed, every car made should find a buyer for the foreseeable future.

In the coming year, investors can also look forward to a share buyback program with a volume of 5 to 10 billion dollars.

And then he shot the bird off again: He doesn't just want to overtake Apple and Saudi Aramco in relation to Tesla's market value.

Musk believes Tesla is capable of a greater stock market value than the iPhone company and the Saudi Arabian oil giant combined.

Various analyst firms also confirm the potential of Tesla shares – albeit not in the magnitude of Musk.

Morgan Stanley has an "Overweight" rating on Tesla stock with a price target of $350.

Measured against the current price, this would correspond to a potential of more than 80 percent.

Tesla posted a "clean profit increase" in the third quarter despite lower regulatory credits, rising input costs, foreign exchange and logistics headwinds, and inefficiencies in ramping up new facilities.

The view of the free cash flow was also impressive.

Chart technically badly hit

Anyone who as an investor caught Tesla fever on the stock exchange very early on can look at the position in the depot with ease, even with the severe price losses in the current trading year - Tesla's balance sheet to date has been excellent.

Since the IPO in 2010, the average price return has been 48 percent per year.

However, that cannot hide the fact that the Tesla share is currently battered in terms of charts.

After years of sideways trading, Tesla stock started an impressive price rally in October 2019.

The course was able to increase twenty-six times in the following two years and marked a record high of 414 dollars in November 2021.

After a pullback to $233 in February 2022 and a recovery to $384 by April, the stock then went into correction mode.

At times, the price dropped to around the $190 mark by early November.

Tesla shares are now well below the $274 200-day moving average.

The trend arrows are therefore pointing downwards for the time being.

If the correction continues, the 2021 low (March 2021) at $180 could be targeted next.

In the event of prices rising again, on the other hand, the next target price will be the interim high of November 1st at 237 dollars.

Technically, however, the situation would only improve if the 200-day line was recaptured.

Real Tesla stock market fans will probably continue to hold their positions, while investors who have not yet invested should be more cautious because of the ailing chart technology.