Tesla Stock News and Forecast: TSLA jumps on delivery email


  • Tesla stock outperformed on Tuesday as it closed 2.5% higher.
  • TSLA was boosted by talk of strong deliveries.
  • Technicals also approach a key level.

Tesla (TSLA) stock outperformed on Tuesday as it closed at $282.94 for a gain of just over 2.5%. That marked a noted outperformance versus the main indices as the S&P 500 and Nasdaq closed either side of flat. S&P 500 ended the session at -0.21% and the Nasdaq at +0.16%. 

Tesla stock news

The outperformance looks to have been charged up by the news that Tesla is expecting a strong delivery push to end the quarter. This has increased expectations that Tesla could see a record quarter for deliveries. Electrek reported on an internal email from Tesla to employees not working in sales and delivery to help deliver to customers by the end of the quarter. The current consensus has deliveries for the quarter at 350,000, so any outperformance would be seized on by bulls. 

Tesla stock forecast

The choppy range continues, but overall Tesla is holding up much stronger than the overall market. It remains well above June lows, while the main indices have pierced through those lows this week. Failure at $314.64 was a bearish sign, but so far we have little follow-through on the sell side. $266.15 was defended by bulls, and now we reenter the choppy zone around $281.

Overall, equities remain challenged, and valuations are likely to fall. Tesla is likely to get a boost if those reported numbers for the end of quarter deliveries are correct. That would again lead to a test of $314.64, which would really need to be broken. The more a level is tested the weaker it becomes. A break there would see the top of the trend at $350 as the logical target.

Currently, we do have a triangle formation with a series of higher lows and the cap at $314.64. Usually, triangles result in a powerful breakout, but the direction of that breakout usually occurs in the recent direction, which here is lower. For me, $314.64 and $266.15 are the key levels to watch. 

TSLA 1-day chart

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD remains heavy near 0.6750 after Australian jobs data

AUD/USD remains heavy near 0.6750 after Australian jobs data

AUD/USD remains under intense selling pressure near 0.6750 in Asian trading on Thursday. Mixed Australian employment data fails to inspire the Australian Dollar while the US Dollar extends the post-Fed recovery amid a cautious market mood. US data awaited. 

AUD/USD News
USD.JPY jumps toward 144.00 on the road to recovery

USD.JPY jumps toward 144.00 on the road to recovery

USD/JPY gains traction and approaches 144.00 in Thursday's Asian session. The uptick of the pair is bolstered by the impressive US Dollar recovery. Investors shift their attention to the US data and the Bank of Japan interest rate decision on Friday. 

USD/JPY News
Gold price stalls post-FOMC pullback from all-time peak; lacks firm intraday direction

Gold price stalls post-FOMC pullback from all-time peak; lacks firm intraday direction

Gold price oscillates in a range on Thursday and consolidates the previous day's post-FOMC rejection slide from the $2,600 mark or a fresh record high. Persistent geopolitical risks, along with signs of economic trouble in the US and China, lend support to the safe-haven metal.

Gold News
Ethereum attempts recovery following first rate cut in four years

Ethereum attempts recovery following first rate cut in four years

Ethereum is trading above $2,330 on Wednesday as the market is recovering following the Federal Reserve's decision to cut interest rates by 50 basis points. Meanwhile, Ethereum exchange-traded funds recorded $15.1 million in outflows.

Read more
Australian Unemployment Rate expected to hold steady at 4.2% in August

Australian Unemployment Rate expected to hold steady at 4.2% in August

The Australian Bureau of Statistics will release the monthly employment report at 1:30 GMT on Thursday. The country is expected to have added 25K new positions in August, while the Unemployment Rate is foreseen to remain steady at 4.2%.

Read more
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

Forex MAJORS

Cryptocurrencies

Signatures