Will Lyndon Rive ‘Moving On’ From Tesla Inc (NASDAQ:TSLA) Impact Production?

Will Lyndon Rive ‘Moving On’ From Tesla Inc (NASDAQ:TSLA) Impact Production?

Will Lyndon Rive ‘Moving On’ From Tesla Inc (NASDAQ:TSLA) Impact Production?

This Weeks Highlights:

  • Former SolarCity CEO Lyndon Rive will leave Tesla
  • Rive, 40, said SolarCity was “healthier than it’s ever been,” and the time had come for him to move on.
  • Lyndon Rive said he wanted to start a new company next year and spend more time with his family
  • Tesla owner hacks Autopilot’s debugging mode

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 337.46.

The projected lower bound is: 296.87.

The projected closing price is: 317.17.

TESLA INC closed down -8.930 at 315.880. Volume was 35% above average (neutral) and Bollinger Bands were 26% narrower than normal.

Open            High            Low            Close            Volume
318.380      320.200      312.530      315.880      7,622,004

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period        50-period    200-period
Close:                       315.12             289.00         235.23
Volatility:                55                    44                  39
Volume:                   7,376,755      5,910,113      4,709,197

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

TESLA INC gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
TESLA INC is currently 34.3% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of TSLA.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on TSLA.O and have had this outlook for the last 33 periods.

HEFFX Momentum

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 76.2595. This is not an overbought or oversold reading. The last signal was a sell 0 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 55.65. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 9 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 16. This is not a topping or bottoming area. The last signal was a sell 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 0 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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