Tesla Inc (NASDAQ:TSLA) HEFFX Summary

Tesla Inc (NASDAQ:TSLA) HEFFX Summary

Tesla Inc (NASDAQ:TSLA) HEFFX Summary

Tesla made several significant announcements last week regarding charging in Australia, which is becoming an increasingly important market for the company.

They announced a partnership to deploy destination chargers at 31 shopping centers across the country and offer one year of free charging at home to new owners.

Stockland announced that it is investing $200,000 to deploy the chargers at its shopping centers from Cairns to Melbourne.

At the Tesla shareholder meeting this past week CEO Elon Musk spoke about the Model 3 rollout and provided some more color on the Model Y.

The week ended with a bang when Tesla (momentarily) passed BMW in market cap.

But before that happened, Tesla held its annual shareholder meeting in Mountain View, Calif. Note that all shareholder meeting comments below are from Elon Musk. Shareholder meeting transcript excerpts courtesy of Seeking Alpha.

Model 3 configurator, simple configs first (to avoid Model X mistakes) — and first deliveries on track: “We expect that the configurator to go live towards the end of next month [July] when we deliver the first production Model 3. So yes, we are definitely on track to deliver the first production Model 3 next month.

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.

By the way, prices are vulnerable to a correction towards 312.63.

The projected upper bound is: 380.65.

The projected lower bound is: 337.19.

The projected closing price is: 358.92.

TESLA INC closed down -12.680 at 357.320. Volume was 99% below average (consolidating) and Bollinger Bands were 76% wider than normal.

Open         High           Low              Close           Volume
374.420    376.870     354.800      357.320      36,352

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

Moving Averages: 10-period      50-period     200-period
Close:                       346.86          315.55             244.62
Volatility:               36                   44                    40
Volume:                  7,511,377      6,440,269      5,038,920

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 46.1% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into TSLA.O (mildly bullish). Our trend forecasting oscillators are currently bullish 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 79.0885. 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 66.38. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a bearish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 0 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 108.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 18 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 buy 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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