TSLA weekly long, held through the Q3 printTesla, Inc.BATS:TSLAIvanLabrieI bought TSLA this morning off the weekly chart, around 385, with the stop at 350.19 and targets at 429 first, then 503. After a retest of the accumulation level since the last attempt to rally, the stock was firing on all cylinders ahead of the report so I figured it was worth a shot to front run it. The print came out after the close and I don't see anything in it that changes the trade. The car business earned less. Revenue was flat at $28B, deliveries fell 2% and operating margin dropped to 2.6% from 5.8%, mostly because R&D went up almost 70% and regulatory credits fell to $113M from $417M. Margins on the cars themselves improved though, 18.1% excluding credits against 15.4% a year ago, so they're cheaper to build even with prices soft... and Tesla said battery supply was what capped deliveries, with the order backlog at a four-year high. I think the car story isn't what this gets judged on anymore. Optimus production started on the high-volume lines in Fremont, Cybercab is already carrying riders in the Austin robotaxi fleet with close to 2M unsupervised miles so far, and FSD is on over 75% of new North American deliveries. There are no unit numbers on Optimus or Cybercab yet, and that's what I'd want to see next quarter. The macro read is about how the AI build gets paid for. Tesla spent $4.7B on capex this quarter and still had $1.5B of free cash flow with $45B in cash, although most of that cash flow came from paying suppliers later and taking deposits, about $5.2B between the two. Meta reported the same night with negative free cash flow and a new non-voting share class built to raise equity for AI. For now Tesla funds its build from its own balance sheet, and I'd keep an eye on that as the hiking cycle goes on, with CME FedWatch pricing about 2.5 hikes by April. If the weekly holds and the robotaxi numbers keep growing, 429 looks reachable and 503 is possible over time, but losing 350.19 takes me out and that would be OK too, it's a defined risk trade. Good luck! Ivan Labrie