Tesla shares close higher on Wednesday, two teenagers reportedly perish in Model S fiery crash

Two 18-year-old males were reported to have been killed in Fort Lauderdale, Florida on Tuesday, when their Tesla Model S sedan crashed and caught fire. A third 18-year-old male, who was in the back seat of the vehicle, was taken to a hospital, NBC reported on Wednesday.

Tesla shares closed higher for the fifth time in the past eight trading sessions on Wednesday. The stock went up 1.62% ($4.88) to $306.85, with the intraday high and the intraday low being at $307.01 and $300.05 respectively.

In the week ended on May 6th the shares of the luxury electric vehicle manufacturer added a mere 0.01% to their market value compared to a week ago, which marked a second consecutive period of gains.

The stock has extended its advance to 4.41% so far during the current month, following a 10.43% surge in April. The latter has been the first gain out of three months.

For the entire past year, the shares of the NASDAQ-listed electric car maker rose 45.70%, following a 10.97% drop in 2016.

According to Miami Herald, it was not immediately clear what the reason behind the incident was.

Still, there were no reports stating that the vehicles autopilot might have been involved in the crash. According to local police, on the other hand, speed may have probably been a factor.

The police also said the incident had transpired in the 1300 block of Seabreeze Boulevard, as the Model S sedan left the roadway and ran into a concrete wall, which immediately caused fire eruption.

According to CNN Money, the 23 analysts, offering 12-month forecasts regarding Tesla Inc’s stock price, have a median target of $305.00, with a high estimate of $500.00 and a low estimate of $180.00. The median estimate is a 0.60% decrease compared to the closing price of $306.85 on May 9th.

The same media also reported that 11 out of 27 surveyed investment analysts had rated Tesla Inc’s stock as “Hold”, while 8 – as “Buy”. On the other hand, 6 analysts had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Tesla stock are presented as follows:

R1 – $307.49
R2 – $308.13
R3 (Range Resistance – Sell) – $308.76
R4 (Long Breakout) – $310.68
R5 (Breakout Target 1) – $312.91
R6 (Breakout Target 2) – $313.97

S1 – $306.21
S2 – $305.57
S3 (Range Support – Buy) – $304.94
S4 (Short Breakout) – $303.02
S5 (Breakout Target 1) – $300.79
S6 (Breakout Target 2) – $299.73

By using the traditional method of calculation, the weekly levels of importance for Tesla Inc (TSLA) are presented as follows:

Central Pivot Point – $292.06
R1 – $308.88
R2 – $323.68
R3 – $340.50
R4 – $357.33

S1 – $277.26
S2 – $260.44
S3 – $245.64
S4 – $230.85