Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

  • Tesla launched in South Korea earlier this year despite being at a disadvantage against other electric vehicles. Tesla buyers don’t have access to the very generous electric vehicle incentive of up to 26 million won (~$23,000) offered by the government.
  • Now they have announced that they are removing the restriction that made Tesla’s vehicles ineligible.
  • The reason for the ineligibility is pretty ridiculous for anyone familiar with long-range electric vehicles. For an EV to be eligible forthe incentive, the electric car needs to be able to fully charge in under 10 hours using a standard outlet.
  • It unfairly gives an advantage to vehicles with small battery packs and shorter ranges. Vehicles with larger packs and longer ranges, like Tesla’s, can charge in under 10 hours, but by using level 2 chargers – not a standard outlet. Other EV incentive schemes, like California’s ZEV mandate, include charging speed restrictions, but they are nowhere near as restrictive as this Korean scheme.

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: Downwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 350.74.

The projected lower bound is: 300.51.

The projected closing price is: 325.62.

TESLA INC closed down -2.980 at 325.260. Volume was 13% below average (neutral) and Bollinger Bands were 80% wider than normal.

Open             High           Low             Close           Volume
328.230       331.650      323.219      325.260      6,357,014

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

Moving Averages: 10-period         50-period       200-period
Close:                       321.91               340.93            264.27
Volatility:                50                      47                     42
Volume:                  10,605,515       8,254,629       5,933,243

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 23.1% 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 10 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 56.9043. This is not an overbought or oversold reading. The last signal was a buy 6 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 43.02. 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 16 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 -19. This is not a topping or bottoming area. The last signal was a buy 6 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 19 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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