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TSLA Breakout Trade Update

April  4th 2017 TSLA Trade Update

Tesla (NASDAQ:TSLA) shares rallying on positive delivery data on the Model S and Model X with above 100k delivery in 2017.

SeekingAlpha puts all of it together,

Clearly the shorts are getting squeezed with this news on Monday and Tuesday’s trading session, and we are not surprised as TSLA was acting strong into resistance as posted March 31st 2017.

Furthermore, financial outlook suggests TSLA is expected to ramp up production on the Model S and Model X to continue rollout those vehicles.

Here’s the roundup

  • TSLA delivered 13,450 units of Model S
  • TSLA delivered 11,550 units of Model X
  • Released Auto Pilot 8.1
  • Raised $1.2 billion capital
  • Chinese Internet Company , Tencent (TCEHY) bought 5% of TSLA.

Although 24,890 car deliveries is still the low-end of analyst estimates, TSLA delivery figures remain solid and out Exit target will be $298 or wave iii target.

Course of action: Exit at wave iii resistance at 161.8% retracement or 312.49 level


TSLA Breakout trade by wallstreetsharks on TradingView.com

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