Tesla Gains as Deliveries Surge in September

Tesla (NASDAQ:TSLA) is trading down 0.03% at 775.22

Tesla stock (NASDAQ:TSLA) traded 1.6% higher in Monday’s premarket as the company recorded a 73% jump in deliveries in the third quarter.

The company handed over 241,300 vehicles while production jumped 64% to 237,823 units.  

Tesla delivered a combined 232,025 Model 3 sedans and Model Y compact sport-utility vehicles in the third quarter. Delivery of higher-end models, Model S sedans and Model X sport-utility vehicles, came in at 9,275 units.

The maker of electric vehicles thus defied the semiconductors shortages plaguing the industry to stay on course to meet its full-year target of 50% more deliveries than last year’s 499,550.

Most of Tesla’s rivals have been hit badly by a shortage of semiconductors as factories in China, Vietnam and southeast Asia – where much of the production of these chips happens — have been forced to stay shut to prevent the spread of the pandemic.

From tweeting, “Our biggest challenge is supply chain, especially microcontroller chips. Never seen anything like it” in early June, Tesla CEO Elon Musk said late September that the chip crunch should be over by next year.

On technical fronts Tesla (NASDAQ:TSLA) RSI stood at 61.09 and currently stock is trading above all MA. So, BUY position can be taken with following target and stoploss: 

TRADE SIGNAL – : Tesla (NASDAQ:TSLA) – BUY : 775.22, TARGET: 777.62, STOP LOSS : 771.92

About Author

Related posts

VOLKSWAGEN AG Technical Analysis

VOLKSWAGEN AG TECHNICAL ANALYSIS, AND VOLKSWAGEN AG FORECAST

VOLKSWAGEN AG Technical Analysis: Weekly Chart In the weekly charts, VOLKSWAGEN AG is trading in a down channel. VOLKSWAGEN AG is currently trading below all SMA. RSI is in over sold zone which indicates mild bullishness. MACD is currently below zero which indicates bearishness. Its immediate support is 155.97...

Read More
Siemens ag technical analysis

Siemens AG Technical Analysis, How To Trade Siemens AG

SIEMENS AG Technical Analysis: Weekly Chart In the weekly charts, SIEMENS AG is trading in a down channel. SIEMENS AG is currently trading below all SMA. RSI is in over sold zone which indicates mild bullishness. MACD is currently below zero which indicates bearishness. Its immediate support is 95.00...

Read More
sap ag technical analysis

SAP AG Technical Analysis And How To Trade SAP AG

SAP AG Technical Analysis: Weekly Chart In the weekly charts, SAP AG is trading in a down channel. SAP AG is currently trading below all SMA. RSI is in selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness. Its immediate support is 84.25 & the...

Read More

Leave a Reply