Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

  • Elon Musk has announced that the Model 3, his automaker’s cheapest car yet, will begin to roll out of the factory as soon as Friday.
  • The vehicle, which will cost around $35,000, is Tesla’s first attempt at winning over mainstream car buyers. In the past, the automaker has produced vehicles squarely targeted at the luxury end of the market—with its Model S costing almost $70,000 before any extras are added.
  • A female engineer who came forward with claims of harassment says she was fired in retaliation. But now other women have voiced similar concerns
  • Goldman lowers its six-month price target for Tesla to $180 from $190, representing 49 percent downside from Monday’s close.
  • The firm reiterates its sell rating for Tesla shares, saying the company will likely have issues meeting its car production targets this year.

Tesla, Inc., formerly Tesla Motors, Inc., designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage. The Automotive segment includes the design, development, manufacturing, and sales of electric vehicles. The Energy generation and storage segment includes the design, manufacture, installation, and sale or lease of stationary energy storage products and solar energy systems to residential and commercial customers, or sale of electricity generated by its solar energy systems to customers. The Company produces and distributes two fully electric vehicles, the Model S sedan and the Model X sport utility vehicle (SUV). It also offers Model 3, a sedan designed for the mass market. It develops energy storage products for use in homes, commercial facilities and utility sites.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

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

The projected upper bound is: 375.87.

The projected lower bound is: 331.25.

The projected closing price is: 353.56.

TESLA INC closed down -8.990 at 352.620. Volume was 96% below average (consolidating) and Bollinger Bands were 25% narrower than normal.

Open           High           Low             Close           Volume
370.240      371.350      351.500     352.620      274,699

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

Moving Averages: 10-period       50-period     200-period
Close:                       370.08           338.37           257.85
Volatility:                39                    42                   40
Volume:                   6,058,467      7,175,414      5,432,124

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 is currently 36.8% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 23 periods.

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 16.8579. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 1 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 47.17. 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 5 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 -151.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 5 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 8 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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