Tesla Motors, Inc. (NASDAQ: TSLA)
Tesla Motors, Inc. (TSLA), an electric automobile company yesterday announced their fourth quarter and full year delivery numbers. TSLA shipped 17,400 cars during the fourth quarter and 50,580 cars for the full year. The numbers hit the low end of the range of expected deliveries which was 50,000 to 52,000. The expected range was revised in November from the original projections of 55,000. As of Monday morning TSLA is down 8%, as sellers are looking for any signs of weakness with the overall markets down due to China’s Shanghai Index crashing almost 7%. Questions are still out on what the actual market for electric cars are moving forward, and with the company having problems estimating sales it may have some investors worried moving forward.
TSLA Technical Analysis
TSLA gapped down in price yesterday to $230.77, down from the prior day’s close of $240.01, which is a 4% decrease on unfavorable news. Taking a look at the daily chart, we can see the last time TSLA traded above this price level was on December 28th when it traded at $228.95. Taking a closer look at the daily chart we can see that TSLA has been very choppy the last few months of trading. TSLA has started to put in higher highs dating back to the beginning of November. On November 6th the high was $232.36, on December 1st it was $237.19, followed by highs of $240.01 on December 31st. A key price for this move down would be $217.02 which was the low of the last move down. If TSLA were to close below that level it would reverse the two month trend of also putting in higher lows. TSLA has a float of 102 million shares and is trading right at the normal daily trading volume. TSLA did reach pre market lows of $226.58, but bounced back $4.19, equivalent to 2%. For trading purposes, my entry short would have been $230.50, looking for a move down to $225. My stop loss would have been $231, fearing anything above that and the stock would start to fill in the gap down.
Tesla Motors Profile
Tesla Motors, Inc., incorporated on July 1, 2003, designs, develops, manufactures and sells electric vehicles, electric vehicle powertrain components and stationary energy storage systems. The Company also designs, develops, manufactures and sells electric vehicle powertrain components to other automotive manufacturers. The Company uses energy management technologies and manufacturing processes developed for its vehicle powertrain systems and develops stationary energy storage products for use in homes, commercial sites and utilities. It designs its battery packs. The Company’s technology includes cooling systems, safety systems, charge balancing systems, battery engineering for vibration and environmental durability, robotic manufacturing processes, customized motor design and the software and electronics management systems necessary to manage battery and vehicle performance. Its products include Model S and The Tesla Roadster. In addition to the design, development and production of the powertrain, it has created in-house capabilities in the design and engineering of electric vehicles and electric vehicle components and systems. It designs and engineers bodies, chassis, interiors, heating and cooling and low voltage electrical systems in-house. The Company offers loans and leases in North America, Europe and Asia primarily through various financial institutions. It also offers leases directly through its captive finance company in 37 states, the District of Columbia and in four provinces of Canada. Certain of its loan programs provide customers with a resale value guarantee. In certain markets, it also offers buy back guarantees to financial institutions. The Company conducts its powertrain and vehicle manufacturing and assembly operations at its facilities in Fremont, California; Lathrop, California; and Tilburg, Netherlands. It provides service for its electric vehicles at its service centers. It owns and operates 95 service locations as of December 31, 2014. Reuters
