Market Overview

Tesla's Stock Rebounds After Disappointing Delivery Numbers

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Tesla Motors Inc (NASDAQ: TSLA) shares are trading higher by $7.00 (3.4 percent) at $223.99 in Wednesday's session. The issue has recovered from delivery numbers released after Tuesday's close that did not meet investors expectations.

The stock was down more than 2 percent in Tuesday's after-hours session.

Off a lower open, the issue immediately found support off the open just above its December 29 ($214.12) and began to mover higher. In practically a straight-up fashion, it has reached $225.25 and has fallen back to the $224.00 area.

That marks a new high for its recent rally since it bottomed on November 14 at $178.19. If the rally continues, there may be additional resistance at its August 24 high ($227.15) and its August 23 high ($228.49).

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