Tesla, Inc. (NASDAQ:TSLA) delivered 95,200 cars in its second quarter, a record for the company

Tesla, Inc. (NASDAQ:TSLA) delivered 95,200 cars in its second quarter, a record for the company

Tesla, Inc. (NASDAQ:TSLA) delivered 95,200 cars in its second quarter, a record for the company

Tesla delivered 95,200 cars in its second quarter, a record for the company.

The numbers, released Tuesday, met the company’s own goal and easily outpaced the 63,000 cars delivered in the first three months of the year.

They also far surpassed the 40,740 cars delivered to customers in the year-ago quarter, when Tesla was still struggling to ramp up production of the Model 3, its best-selling car.Shares of Tesla (TSLA) jumped roughly 7% in after-hours trading.

Tesla’s delivery figures most closely map to sales because customers do not pay full price until they receive their car.

Wedbush analyst Dan Ives, who has a neutral rating on whether to buy or sell Tesla stock, said in a note that he was impressed by the latest sales figures — particularly by the 77,550 deliveries Tesla recorded for the Model 3.

He said the Model 3, which is priced more for the mass market than Tesla’s luxury Model S and Model X SUV, “remains the linchpin of the Tesla growth story.

“The latest figures follow what was the biggest drop in sales in its history last quarter, when sales declined from the 90,700 cars Tesla sold in the last three months of 2018.

Tesla attributed much of that drop to logistical issues as the company began shipping the Model 3 overseas.

The company said Tuesday that it’s made “significant progress streamlining” its global shipping and delivery operations.

That has saved Tesla a bundle of cash, and boosted the number of sales Tesla was able to notch in foreign markets.The company is “well positioned to continue growing total production and deliveries” in the quarter that just began, according to the press release.

Tesla also received more new orders last quarter than the total number of deliveries it recorded.

That could indicate that there’s still strong demand for Tesla vehicles.Some investors and Tesla critics had suggested that consumer appetite for the electric vehicles was petering out. It also faces more competition from traditional automakers that are introducing their own electric cars. CEO Elon Musk has repeatedly said that demand for Tesla vehicles is strong.

Part of the drop in sales Tesla recorded during the first quarter was caused by somewhat unique circumstances. What had been a $7,500 tax credit for Tesla buyers dropped in half as of January 1.

So many buyers rushed to buy cars at the end of 2018 to get the full reduction in their federal tax bill. That pulled ahead some sales that otherwise would have been recorded in the first quarter.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 243.31.

The projected lower bound is: 204.26.

The projected closing price is: 223.79.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 black candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 55.8979. This is not an overbought or oversold reading. The last signal was a sell 14 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 55.33. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 20 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 72. This is not a topping or bottoming area. The last signal was a sell 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 19 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -2.620 at 224.550. Volume was 16% below average (neutral) and Bollinger Bands were 37% narrower than normal.

Open High Low Close Volume___
228.890 229.150 222.220 224.550 9,259,027

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period     50-period     200-period
Close: 222.86 220.91 285.54
Volatility: 28 57 69
Volume: 7,776,881 12,142,538 9,699,411

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

TESLA INC is currently 21.4% below its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of TSLA.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on TSLA.O and have had this outlook for the last 13 periods.

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