Barclays is reinforcing bullish sentiment on Tesla (TSLA.US) stock in Monday trading after the bank said Tesla will report deliveries of 470,000 units in Q3, up 8% year over year and above Tesla’s own consensus of 461,000. Volume growth in Q3 will be driven almost entirely by China, as demand in Europe remains weak. Tesla has said it plans to launch FSD (Full Self-Driving) in China early next year, pending regulatory approval. Barclays’ price target on Tesla remains at $220.
Tesla is currently in an uptrend pattern, as evidenced by upwardly tilted exponential moving averages.
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