Tesla Stock (NASDAQ: stocks/tsla”>TSLA) rose nearly 18% on Thursday following the release of a constructive third-quarter financial report that met financial analysts' predictions. The big jump in the company's margin from 16.8%, which was expected to be 16.8%, to 19.8%, was the main reason for this rally. This was its biggest intraday rally since April, as well as the second biggest since March 2021.
Traders were impressed with Tesla's improved guidance, which projected 20% to 30% higher. deliveries by 2025. The strong recovery in revenue and margins confirmed the value of the core automotive business and consequently alleviated the difficulties they had with slow deliveries and weakening demand in China earlier this year.
Positive delivery forecasts also had a positive impact on investor confidence. However, some analysts remain cautious despite a strong quarter.
Tesla has yet to adequately respond to questions about its fully self-driving technology, the timeline for launching new models, or the production of Optimus, its ambitious humanoid robot project. These factors could lead to lower future performance, although Tesla's financial stability has currently given a boost to investors' hopes.
Tesla Stock Chart Analysis
TSLA/USD 15-minute chart
While studying the performance of Tesla (TSLA), a chart demonstrates a rally that saw the stock rise from a low of $212.11 on October 23 to a high of $262.10 on October 25. This rebound of almost 24% in a few days indicates that investors are optimistic. about Tesla, what is it doing better than expected in the third quarter.
The stock saw a rapid rise after Tesla said its gross margin was 19.8%, beating the 16.8% expected, spurring a revival of confidence in the stock. Due to that, Tesla broke the $250 resistance levels and moved higher. Right now, we see the stock flat at about $260.54, just below its intraday high of $262.10.
Tesla (TSLA) sees higher profits
In the coming times, we will be keeping an eye on whether Tesla could make more gains or whether it will struggle around the $262 level. In case it continues to rise, we can expect a level of $270 to generate resistance. However, it is very important to be cautious, as questions about Tesla's full self-driving technology and new product launches remain a cause for concern.
For now, the positive market reaction to Tesla's strong recovery in earnings and margins has provided a boost and we will be keeping an eye on any pullback or consolidation following this strong rise. As always, we have information that cannot be ignored and the situation requires extreme caution.
If you are keeping an eye on Tesla (TSLA), pay attention to the $262 resistance level. A rise above may indicate a continuation of momentum and, with the price falling, this could be a new buy point. Quickly write down the changes to decide if the time is right for you!
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