Tesla's March deliveries in China lead to a solid outlook for the electric-car maker into the rest of 2021, according to Wedbush analyst Dan Ives.
On Friday, the China Passenger Car Association data showed that Tesla delivered 35,500 vehicles in March, about double the February level.
Ives mentioned in a note, "The narrative is [clear: Despite] the haters and bears focused on China EV sales softening in January, we have seen a storybook comeback from Tesla and domestic EV players NIO, Li Auto, Xpeng and others in this key region".
Wedbush expects a run rate of 300,000 units delivered in China for the year. Tesla has a target of delivering 850,000 vehicles worldwide.
"As this green tidal wave hits its next phase globally, ... the Tesla EV demand story is just starting to play out," Ives noted.
Wedbush maintained its outperform rating and $1,000 price target on Tesla shares.
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where TSLA declined for three days, in of 268 cases, the price declined further within the following month. The odds of a continued downward trend are .
The Momentum Indicator moved below the 0 level on April 10, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on TSLA as a result. In of 73 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Aroon Indicator for TSLA entered a downward trend on April 25, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where TSLA's RSI Oscillator exited the oversold zone, of 27 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 40 cases where TSLA's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for TSLA just turned positive on April 25, 2024. Looking at past instances where TSLA's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .
Following a +1 3-day Advance, the price is estimated to grow further. Considering data from situations where TSLA advanced for three days, in of 348 cases, the price rose further within the following month. The odds of a continued upward trend are .
TSLA may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 85, placing this stock slightly better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. TSLA’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (8.905) is normal, around the industry mean (6.005). P/E Ratio (40.726) is within average values for comparable stocks, (18.064). Projected Growth (PEG Ratio) (2.067) is also within normal values, averaging (5.553). TSLA has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.043). P/S Ratio (6.305) is also within normal values, averaging (74.209).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of electric sports cars
Industry MotorVehicles