Tesla shares rise nearly 7% after delivery and production numbers beat expectations
It surprises me that DZ bank who double downgraded Tesla's share last week didn't see this coming. Someone who predicted that Tesla share price will experience 'big fall' when RSI indicated overbought also missed this. Study has shown that a stock can remain overbought for a long time during a trending market.
As I said before TA indicators like RSI have limitations and need to verify by another indicators and with macro reality. If not you'll always make confirmation bias mistake - selectively choose an indicator data to justify based on what have happened or what you believe.
Quote:
Tesla shares rose 6.9% on Monday, driven in part by stronger-than-expected second- quarter deliveries and production numbers. Analysts expected 445,925 deliveries for the period ending June 30, 2023. Tesla beat that estimate by more than 20,000 cars, delivering 466,140 vehicles for the second quarter of 2023. Tesla shares are up 127% year to date.
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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Mars83 : Maybe they want us to sell and they can buy and consolidate
ZnWC OP Mars83 : One possiblity