Tesla Inc (NASDAQ:TSLA) Model 3 Battery Gigafactory

Tesla Inc (NASDAQ:TSLA) Model 3 Battery Gigafactory

Tesla Inc (NASDAQ:TSLA) Model 3 Battery Gigafactory

Tesla has confirmed that it started production of the new Model 3 battery cell at Gigafactory 1 in Nevada over the weekend – an important step toward launching the production of the Model 3.

The new battery cells are believed to be key to Tesla achieving the necessary cost reductions that enable the Model 3’s $35,000 starting price tag before incentive.

Tesla’s new 2170 format battery cells went into production back in January, but those cells were using Nickel Manganese Cobalt Oxide (NMC) chemistry for stationary energy storage products, Tesla’s Powerwall and Powerpack.

Tesla Motors founder and CEO Elon Musk was invited by a major Indian auto company to visit India.

India is on track to be the world’s third-largest auto market and has plans to eliminate fossil-fuel cars by 2030.

Mahindra Electric is leading the charge in India with its e2o Plus, a $10,000 car that goes about 87 miles per charge. Tesla’s $35,000 Model 3 claims a range of 214 miles per charge.

Tesla has invested billions in the United States, China and Japan to set up networks of EV charging stations, and continues to pour capital into their expansion. But Musk’s plans for India are still unknown.

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 323.36.

The projected upper bound is: 394.05.

The projected lower bound is: 351.81.

The projected closing price is: 372.93.

TESLA INC closed down -3.940 at 371.400. Volume was 100% below average (consolidating) and Bollinger Bands were 103% wider than normal.

Open         High           Low            Close          Volume
377.975     378.010     370.100     371.400     13,098

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

Moving Averages: 10-period      50-period      200-period
Close:                       364.95           323.73           248.48
Volatility:                42                   42                   40
Volume:                   9,917,563     6,909,499     5,287,926

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 49.5% above its 200-period moving average and is in an upward trend. Volatility is relatively normal 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 12 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 74.8736. 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 66.89. 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 1 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 83. This is not a topping or bottoming area. The last signal was a sell 1 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 13 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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