Tesla presents results and continues to break records
Tesla, the world's largest electric car maker, released its second-quarter results yesterday, beating all analysts' forecasts.
The manufacturer almost doubled its quarterly revenue compared to the previous year, reaching $11.958 dollars.
This figure is nearly $500 million higher than analysts' forecasts.
The increase in revenue and the improvement in margins have had a significant impact on Tesla's Earnings Per Share (BPA), which has risen to $1.45 versus the forecast of $0.93, an increase of more than 50%.
In this quarter the company broke some historical records, producing and delivering more than 200,000 vehicles, maintaining its average growth target of 50% for this year.
In addition, the company assured that it has expansion plans and sufficient liquidity to finance an increase in its production capacity in the long term.
The market has reacted to the announcement with a rise of 1.43%, so Tesla's stock in today's pre-opening is trading at $667.
In the chart above you can see the evolution of tesla's share price since December 11, with a periodicity of 4 hours.
In it you can see the formation of a descending triangle, which began to form in mid-January and was consolidated in early March.
Since then Tesla's stock has traded sideways within this triangle, with small impulses where the stock even reached the overbought zone, as shown by the RSI indicator, a moment used by traders to take profits.
The price has been circling the resistance of this downward triangle for several days and currently, the pre-opening shows that Tesla's share price is above this key level.
This is certainly a key action to watch for traders, as the breakout of this figure could cause a sharp advance on the quote and the beginning of a new upward cycle.
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