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TESLA STOCKS SURGE ON RECORD DELIVERIES - Capital Street FX

03-Jul
19:31 IST

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

 

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