Tesla News And Technical Analysis – 05 December 2022
05 Dec 2022
Tesla sold 100,291 China-made vehicles in Nov -Xinhua
Tesla (NASDAQ: TSLA) Inc delivered 100,291 China-made electric vehicles (EVs) in November, the highest monthly sales since its Shanghai factory opened in late 2020, a Xinhua report said on Monday.
The number marks a 40% increase from October and 89.7% more than a year earlier after the U.S. automaker ramped up output at the Shanghai plant, cut prices for the best-selling models, and offered incentives to Chinese buyers.
However, BYD led all brands in China’s November EV sales at 229,942 electric cars including plug-in hybrids and pure electric vehicles, three times more than a year earlier and more than double Tesla’s tally, China Passenger Car Association data shows.
TESLA TECHNICAL ANALYSIS DAILY CHART:
In daily chart, Tesla currently is trading in the down channel. Tesla is currently trading above all SMA.
RSI is in Buying zone which shows bullishness. And stochastic is suggesting up trend.
Tesla’s immediate support level is at 11.02 & resistance level is at 198.27
HOW TO TRADE IN THIS WEEK
Tesla is trading in the down channel, but as we can see it has started trading to the upside, if it holds this current swing then it will continue to trade up and will follow the uptrend.