Good News
After a tough week for Tesla (TSLA) some good news finally comes out. Elon Musk stated that the first 30 customers will be receiving their new Model 3 by the end of July. Musk also stated that they are expecting to produce 100 cars by August and 1,500 by September. The company’s goal is to produce 500,000 models by the end of 2018.
The new Model 3 is the cheapest car Tesla has ever produced, and the cool sleek design does not disappoint. At around $35,000 the Model 3 is the most affordable Tesla vehicle on the market compared to the other Tesla models. The Model 3 can also run 215 miles on a single charge.
Will this news be enough for stock traders to make a good profit from Tesla’s dip?
Balls On Wall Street Trading Plan
I do expect for the stock to steadily create an uptrend back to its original peak value, but it may take some time. For now, I circled all of the good indicators for a good entry point in this stock.
The ovals on the top candle chart indicate candlestick formations when an uptrend was about to begin. The top red line on the chart indicates a previous level of resistance. The bottom is the support. As you can see there was price rejection at around $315. The ovals at the bottom of the chart are the oscillators that indicate a future price increase.
Remember if any bad news on this company comes out it may drag the stock price even lower.
Please do your own research and trade at your own risk. This post was based on my own research and analysis. Always remember to trade wisely to minimize risk and maximize profits!
Thank you for reading!