Tesla shares gain the most in over 13 months on Monday, strong quarterly vehicle deliveries support

Tesla shares soared to a record high on Monday, reacting to better-than-projected quarterly vehicle deliveries posted a day earlier. The stocks performance bolstered the manufacturers market capitalization to $48 billion, a figure which exceeded Ford Motors value of $45 billion and ranked Tesla as the second largest vehicle producer in the United States following General Motors (with a market value of $51 billion).

Tesla shares registered their largest daily surge since February 17th 2016 during Mondays trading session. The stock went up 7.27% ($20.22) to $298.52, after touching an intraday high at $299.00 and also the highest price level on record. In the week ended on April 2nd the shares of the electric car manufacturer added 5.75% to their market value compared to a week ago, which marked a third consecutive period of gains. The stock has advanced 7.27% so far during the current month, following an 11.32% surge in March. The latter has been the fourth gain in the past nine months. For the entire past year, the shares of the NASDAQ 100-included electric car maker lost 10.97%.

According to Teslas Sunday report, the record 25 418 vehicles were delivered during the quarter ended on March 31st. The figure represented a 69% surge compared to the same period of 2016 and also outstripped Goldman Sachs forecast, pointing to 23 500 vehicles.

“This beat shows that they are managing production better”, Ivan Feinseth, an analyst at Tigress Financial Partners, said, cited by Reuters.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Tesla stock are presented as follows:

R1 – $299.84
R2 – $301.16
R3 (Range Resistance – Sell) – $302.49
R4 (Long Breakout) – $306.45
R5 (Breakout Target 1) – $311.08
R6 (Breakout Target 2) – $313.65

S1 – $297.20
S2 – $295.88
S3 (Range Support – Buy) – $294.55
S4 (Short Breakout) – $290.59
S5 (Breakout Target 1) – $285.96
S6 (Breakout Target 2) – $283.39

By using the traditional method of calculation, the weekly levels of importance for Tesla Motors Inc (TSLA) are presented as follows:

Central Pivot Point – $273.35
R1 – $286.95
R2 – $295.60
R3 – $309.20
R4 – $322.80

S1 – $264.70
S2 – $251.10
S3 – $242.45
S4 – $233.80