TSLA’s shares rose 3.5% on Wednesday, trading at $1000. Although Tesla’s stock (NASDAQ:TSLA) appears stuck on the 9-day moving average, global equity markets seem to be more accommodating, aiding the tech and growth sectors.
Despite PPI data that reached new records and Delta (DAL) macroeconomic comments, the Nasdaq gained 2% on Wednesday.
Tesla’s quarterly results will be released after the market closes on Monday, April 20.
Tesla has been in the news lately for all the right reasons. Elon Musk has offered to acquire all of Twitter (TWTR) for cash for the first time. In addition, the closure of Tesla’s Shanghai gigafactory has drawn attention to the company itself. When China’s automobile sales fell in March, this first impacted the stock’s value.
However, investors have placed this on the back burner for the time being. As Chinese demand slows and manufacturing is halted, we’ll know more about the impact on the market on April 20. As input costs continue to rise, Tesla will be forced to raise pricing to keep up with the competition.
As a result, it may not be until later this year before we see a decrease in demand owing to price increases. That isn’t just going to be for Tesla. Mercedes-Benz said on Thursday that its Vision EQXX electric concept vehicle had completed 621.37 miles on a single charge, keeping pace with the competition for an increased range.
Drivers are always on the lookout for vehicles with the best possible range. Hence the term “range” has become quite popular. However, Elon Musk has said that increasing the battery capacity only to extend the vehicle’s range is detrimental to its performance and handling. According to sources, Musk had claimed, “Even our 400+ mile range vehicle is more than virtually what everyone would utilize.”
Tesla’s (TSLA) stock price prediction
The downtrend line linking the lower highs of November, January, and April shows that Tesla is in along- a medium-term downturn. After a breach of $945 is expected to exacerbate the decline, this is the critical support level. Before the release of results next week, we predict additional range trading on the RSI and MFI indicators. That’s what’s going to set off the next wave of movement.
Thirty-five analysts have a consensus price prediction of 1,100.00, with a top of 1,580.00 and a low of 67.00 for Tesla Inc’s 12-month price projection. From the current price of $1,022.53, the consensus projection is up 7.58 percent.
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