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In the Premarket trading session on Friday, Tesla’s stock was trading at 439.50-higher by 2.15% as compared to its previous close.
The auto maker’s stock surged today after it reported that it had delivered a record 112,000 vehicles globally during the fourth quarter. Delivery numbers were above the market expectation of 106,000 vehicles. The electric carmaker also said that it had delivered 367,500 vehicles annually, in line with its guidance range of 360,000 to 400,000 vehicles.
The automaker disclosed that it had delivered 92,550 Model 3 cars during the fourth quarter, above the consensus estimates of 87,900 cars. Tesla delivered 19,450 Model S during the fourth quarter, above the median forecast of 9,800 Model S. The automaker is now shipping its vehicles to more locations around the world than ever before. Stocks of Tesla have rallied more than 20% in the last year. The share has gained 84.6% over the past three months.
On the technical front, the current price is above the MA5 and the MA20. The current price is above the middle line of the Bollinger Bands and is heading upwards. The stock is expected to trade higher today.
TRADE SUGGESTION- STOP BUY AT 440.00 TAKE PROFIT AT 445.00 STOP LOSS AT 438.00
Tesla’s stock is currently trading at 237.48-higher by 5.72% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 6.77%. The stock has pared some of its earlier gains after the opening bell.
The auto maker’s stock surged today after it reported on Tuesday record delivery and production numbers for the second quarter. Tesla said that it had delivered 95,200 vehicles for the quarter ending 30th June. The second quarter delivery numbers represent a 51.1% increase from the first quarter deliveries and were above its previous record of 90,700. Deliveries were also above the market expectation of 91,000.
Tesla also disclosed that 7,400 cars were still in transit, but not yet delivered, during the quarter. In the second quarter, the automaker delivered 77,550 Model 3s. Model 3s deliveries were above the consensus estimates of 73,144.
On the technical front, the RSI is currently at 64.21% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the upper band of the Bollinger Bands and is heading upwards.
TRADE SUGGESTION- LIMIT BUY AT 237.30 TAKE PROFIT AT 240.30 STOP LOSS AT 236.00