Tesla, Inc. (NASDAQ:TSLA) end-of-quarter push is ‘intense,’ trying to sell every single car
Tesla is currently in a very “intense” end-of-quarter delivery push during which it is trying to sell every single car they have in inventory. Reports from sale channels show that they might get close to that goal, but not without issues.
As we reported earlier this month, CEO Elon Musk told employees that Tesla has “two most critical priorities” to accomplish by the end of 2019:
- The first [priority] is making sure all cars are delivered to their customers before the end of year.
- The second, just as important, is that we immediately increase the rate of solar deployments by a significant degree.
Over the last few weeks since the announcement, Electrek has been receiving anecdotal reports from Tesla’s sales channels confirming that the automaker is in a massive “end-of-the-quarter delivery push,” and Tesla’s stock has progressed to new highs.
Now, new reports from Tesla’s sales channels point toward the company pushing for a new delivery record.
Last quarter, Tesla tried to deliver 100,000 cars over three months, but it fell short by a few thousand units.
In the US, several markets are starting to run out of inventory vehicles, according to Tesla’s own website.
Some Tesla stores have even already sold their display, loaner, and test drive vehicles.
Musk added that the “end of year delivery is intense” as the team is working on his “critical priority.”
A lot of demand in the US is driven by the end of the federal tax credit on Tesla’s vehicles after December 31, but there are a few other markets that could make a difference for Tesla during the last quarter.
As we previously reported, the Netherlands is going to be a critical market for Tesla to deliver a record number of cars this quarter.
The automaker has already been hitting record deliveries in the market this year, and it delivered over 4,000 cars last month alone in the Netherlands.
December is expected to be even bigger.
A ship with over 3,000 Model 3 vehicles just arrived in Amsterdam, and most of those cars are expected to be delivered in the Netherlands.
Sources familiar with the matter told Electrek that Tesla is now expecting between 10,000 and 13,000 deliveries in the Netherlands in December.
What was a logistical nightmare that put an important cash crunch on the automaker earlier this year has now become a great success.
The Netherlands’ AD reported on Tesla’s new streamlined process to deliver cars out of the Koopman Car Terminal in the Westelijk Havengebied as they come off the ships.
While demand is strong, Tesla has mostly fallen short of its delivery goals lately due to logistical issues, not demand.
This quarter might be no different.
A source familiar with Tesla’s sales told Electrek that a recent change in Tesla’s internal sales and customer service management software hasn’t been very smooth, and it has caused issues for the end of the year push.
It might result in some deliveries slipping into 2020, but the number of cars affected should be marginal.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 340.67.
The projected upper bound is: 437.92.
The projected lower bound is: 379.69.
The projected closing price is: 408.81.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 7 white candles and 2 black candles for a net of 5 white candles. During the past 50 bars, there have been 32 white candles and 17 black candles for a net of 15 white candles.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 91.5066. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 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 80.67. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 19 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 141.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 14 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 6 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 1.550 at 405.590. Volume was 78% above average (neutral) and Bollinger Bands were 77% wider than normal.
Open High Low Close Volume___
410.290 413.000 400.185 405.590 14,785,206
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 372.24 327.31 260.81
Volatility: 38 60 58
Volume: 11,291,644 9,397,319 9,301,521
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.
TESLA INC is currently 55.5% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect very strong flows of volume into TSLA.O (bullish). Our trend forecasting oscillators are currently bullish on TSLA.O and have had this outlook for the last 3 periods. Our momentum oscillator is currently indicating that TSLA.O is currently in an overbought condition.