Tesla (NASDAQ: TSLA) finished the trading session on September 27 in the green, following indications that the firm will push for higher deliveries towards the end of Q3.
Despite Tesla’s CEO stating in previous conferences that his electric vehicle (EV) firm will move away from the ‘end-of-quarter delivery push’ model, that seems to have gone by the wayside yet again, as per an email obtained by Electrek on September 27.
“We will be delivering a very high volume of vehicles to eagerly waiting for customers during the final days of Q3. To help ensure we can delight as many customers as possible, the delivery team is requesting additional support with key delivery-execution tasks.”
TSLA chart and analysis
In the last month, TSLA has been trading in the $265.74 to $313.80 range, often bouncing between the 200 and 50-day moving averages. Technical analysis shows a support line at $270.20 and a resistance zone from $303.36 to $309.32.
On Wall Street, TipRanks analysts rate the shares a ‘moderate buy,’ with the average price in the next 12 months reaching $311.97, 10.26% higher than the current trading price of $282.94. Notably, out of 29 Wall Street analysts, 18 have a ‘buy’ rating, six have a ‘hold’ rating, and five have a ‘sell’ rating.
One more push
With Tesla pushing all employees to increase deliveries, a recent report by Reuters indicated that the firm’s Shanghai factory would hold its production capacity at 93% through the end of the year.
If the EV giant manages to deliver the promised numbers or even overshoot, we could see another leg up in TSLA shares, perhaps even a rally.
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Source: https://finbold.com/tesla-is-pushing-to-meet-aggressive-q3-delivery-targets-leaked-email-indicates/