Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

  • A Tesla has gotten into an accident. One not-so-surprising detail that happens to accompany many of these accidents is that autopilot was reportedly engaged at some point before the accident occurred. This particular accident does not stray from that pattern, as a driver claims his Model S lost control after having autopilot activated in his 2016 Tesla Model S.
  • Over the weekend in Kandiyohi County, Minnesota, a Model S ended up on its roof in a marsh with a driver and four other occupants in the car according to reports made by a local news station.
  • Everyone made it out safe and sound, thankfully only sustaining minor injuries. What happens to be interesting about this particular crash is that the owner is reportedly blaming his Model S’ autopilot feature for causing the accident altogether.
  • The accident occurred at a “T” intersection where the Tesla would have needed to make either a left or right turn. The vehicle then reportedly veered off of the road and flipped over into the marsh.
  • Registrations of Tesla vehicles in California, by far the largest market of the luxury electric car maker, fell 24 per cent in April from a year ago, according to data from IHS Markit.
  • The findings come as investors worry that demand for Tesla’s luxury Model S sedan is waning ahead of the mass market Model 3 launch.
  • Tesla last week reported first-half global deliveries of its Model S and its Model X SUV at the low end of its own forecast, driving down the stock and raising questions about demand for the older models.

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: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

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

The projected upper bound is: 354.14.

The projected lower bound is: 302.09.

The projected closing price is: 328.12.

TESLA INC closed up 4.370 at 327.780. Volume was 22% below average (neutral) and Bollinger Bands were 87% wider than normal.

Open           High            Low             Close           Volume
323.190      328.420      321.220      327.780      5,625,211

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period      50-period      200-period
Close:                      328.73            339.68            262.46
Volatility:               63                    50                    42
Volume:                 11,264,813      8,389,192      5,857,213

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 24.9% above its 200-period moving average and is in an downward 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 bearish on TSLA.O and have had this outlook for the last 7 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 79.3237. This is not an overbought or oversold reading. The last signal was a buy 3 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 42.71. 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 13 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 -46. This is not a topping or bottoming area. The last signal was a buy 3 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 16 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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