Tesla increased electric car production by 40%

According to the document, in the first quarter Tesla delivered 29980 electric cars to buyers: 11730 - Model S, 10070 - Model X, and 8180 - Model 3 cars. Analysts surveyed by Bloomberg believed that only 8800 Model 3 cars would be delivered in the first quarter of 2018.

Tesla began assembling its new Model 3 electric vehicles in July 2017, but faced difficulties increasing production. The price of the Model 3 car, which is a budget version of the more expensive Model X(~81.000$) and Model S(~60.000$), starts at 35.000 dollars. In its basic configuration, the car can travel 350 km without recharging. The maximum speed is 210 km/h, and acceleration to 100 km/h takes about 5,6 seconds.

Following this news, the TSLA share price reacted positively and rose by 18,75% over two days, equal to 49$ per share.

Analyzing the TSLA stock chart, we can expect the upward trend to continue. A suitable entry price is in the 290-300$ per share range, with the first target at 360$ and the second target at 386$, the level reached in September 2017.