Tesla Hurt As Stellar Revenues And Sales Causing Parts Shortage
Tesla Motors Inc. is scheduled to publish its first-quarter earnings report on Wednesday. The company’s first-quarter revenue is forecast to reach $1.60 billion, up about 45% from the reading of $1.10 billion in the same period last year. However, investors have raised concerns about a parts shortage that hit Model X deliveries. This is anticipated to adversely affect the company’ sales. On the hourly chart, RSI’s reading is at 30.1645, indicating a bearish market. The stochastics shows that the %K line has arrived into the oversold zone ahead of %D line, indicating that the .TSLA is likely to plummet.
Sell at 231.41, Take profit at 228.83, Stop loss at 233.11