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Tesla Inc. February Sales Data Pushed Quotes Up

2/16/2023 3:06 PM

The stocks of the world's leading electric car manufacturer Tesla Inc. continue the global correction and are currently trading at around 214.00.

Since the beginning of the year, the average share price of the company has adjusted by 20.0 dollars, which is equivalent to 18.0%-19.0% after the publication of data on sales of electric vehicles, which increased significantly after the manufacturer reduced the prices of its products worldwide by 20.0%. Thus, management announced that all pre-orders of Model Y cars in the USA were closed until the beginning of February, and the estimated delivery date was shifted to April-June 2023. The price of the Model Y was reduced to 52,990K dollars from 65,990K dollars, which allowed Tesla Inc. to sell out all pre-orders. According to Elon Musk, now they are about 2.5 times higher than the volume of production, and in the near future the company plans to return to a smooth increase in prices again. At least in February, the cost of the best-selling class of cars has already been increased by 1.0K dollars.

The opportunity to reduce prices for Tesla Inc. appeared due to a stable financial position, which was confirmed by the report for Q4 2022. Thus, revenue amounted to 24.32B dollars, which is an absolute record and significantly exceeds the figure of Q3 of 21.45B dollars, and earnings per share reached 1.19 dollars, which is higher than 1.05 dollars a quarter earlier.  

On the four-hour chart, the quotes continue to trade in the global ascending corridor, approaching the resistance line at around 240.00.

Technical indicators have already issued a new rather strong buy signal: fast EMAs on the alligator indicator are moving away from the signal line, and the AO histogram forms new ascending bars.    

Support levels: 202.00, 180.00. | Resistance levels: 220.00, 240.00.

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