Tesla shares gain for a third straight session on Tuesday, auto maker now building car carriers of its own

September 26, 2018 7:54 am

According to a Monday post on Twitter by Tesla’s Chief Executive Officer Elon Musk, the electric car maker has begun to build its own car carriers over the past weekend as a result of vehicle distribution problems.

Tesla shares closed higher for a third consecutive trading session on NASDAQ on Tuesday. The stock went up 0.44% ($1.31) to $300.99, after touching an intraday high at $304.60, or a price level not seen since September 20th ($305.98).

Shares of Tesla Inc have retreated 3.33% so far in 2018 compared with an 18.24% gain for the underlying index, Nasdaq 100 (NDX).

In 2017, Tesla’s stock surged 45.70%, thus, it outperformed the Nasdaq 100, which registered a 31.52% return.

In his tweet, Musk said that the company’s logistics system was being upgraded, but Tesla was also facing an “extreme” shortage of car carrier trailers.

Musk’s comments came in response to a Tesla client who had ordered a Model 3 All Wheel Drive in June, but the vehicle has not yet been delivered.

Earlier in September, Elon Musk confirmed that currently Tesla needed to cope with more logistical issues rather than delays in production.

According to CNN Money, the 28 analysts, offering 12-month forecasts regarding Tesla Inc’s stock price, have a median target of $306.70, with a high estimate of $530.00 and a low estimate of $100.00. The median estimate represents a 1.90% upside compared to the closing price of $300.99 on September 25th.

The same media also reported that 10 out of 28 surveyed investment analysts had rated Tesla Inc’s stock as “Hold”, while 7 – as “Buy”. On the other hand, 8 analysts had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Tesla stock are presented as follows:

R1 – $301.73
R2 – $302.48
R3 (Range Resistance – Sell) – $303.22
R4 (Long Breakout) – $305.45
R5 (Breakout Target 1) – $308.05
R6 (Breakout Target 2) – $309.21

S1 – $300.25
S2 – $299.51
S3 (Range Support – Buy) – $298.76
S4 (Short Breakout) – $296.54
S5 (Breakout Target 1) – $293.93
S6 (Breakout Target 2) – $292.77

By using the traditional method of calculation, the weekly levels of importance for Tesla Inc (TSLA) are presented as follows:

Central Pivot Point – $293.53
R1 – $311.55
R2 – $324.01
R3 – $342.03
R4 – $360.06

S1 – $281.07
S2 – $263.05
S3 – $250.59
S4 – $238.14

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