Permanecer 
Condições de Negociações
Ferramentas
Elon Musk's charm continues to work for investors.
After the last assurances of President of Tesla inc. that the production speed of Tesla model 3 accelerates and the capacity of the production line reaches the target level of 5,000 units per week, the company's shares rose 10% in one day. Tesla has not had such a good day in the stock market for almost 3 years.
The improvement on the stock exchange took place after Musk's Tuesday meeting with the shareholders of the company. The creator of the brand said on the spot that a positive cash flow will appear in the report by the end of the year and it is very likely that the production of the model 3 at the level of 5000 items/week is very likely this year.
Elon Musk undoubtedly has the gift to charm investors when they are beginning to doubt that they will ever see net profit in company reports. Recall that for the first quarter of 2018 Tesla recorded a record loss, and despite the increase in production, customers are already losing patience waiting for their copy of the model 3. Almost one-quarter of orders were canceled and the advance paid back. Since the launch of subscriptions for model 3 only 8.0% the ordering party has got its car.
Let's now take a look at the Tesla stock technical picture in the daily time frame. Despite the considerable growth, Tesla shares are still priced lower than last year. Wednesday's increase was 10 percent. - nominally about $30. The price of the shares increased from 290 to 320 dollars per share. The maximum from 2017 is almost $ 390 - then Tesla's capitalization turned out to be larger than the biggest giants of the automotive industry, such as Ford or General Motors.
Currently, the price has broken through the 61% Fibo at the level of $315.59 and made a new local high at the level $322.00. The momentum remains strong and it is far from the overbought levels. In this situation, the next target for bulls is seen at the level of 78% at $334.55 and then the price might test the long-term trend line resistance from below. The immediate technical support is seen at the level of $312.00.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
