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Tesla
Ticker: NASDAQ:TSLA
Price: $421.94
Tesla Outlook
Shares of Tesla Inc. TSLA, -2.06% dropped 1.9% in morning trading Tuesday, to put them on track to suffer a fourth-straight decline. That would be the longest losing streak for the electric vehicle maker’s stock since six-day stretch ended March 18.
The current streak comes ahead of Tesla’s third-quarter earnings report, which is scheduled to be released after Wednesday’s closing bell. The stock has shed 8.4% during its current losing streak, which followed a six-day win streak in which the stock rallied 11.4%.
The stock is now 15.2% below its Aug. 31 record close of $498.32. Over the same time, the S&P 500 SPX, +0.47% has slipped 1.4%. Among other EV makers, shares of Nio Inc. NIO, +1.19% rose 0.6% in morning trading Tuesday, Nikola Corp. NKLA, +1.27% edged up 0.2% and Workhorse Group Inc. WKHS, -7.80% fell 3.9%.
Business Summary
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.
Price Performance
Relative Valuation
Technical Indicators
Overall, the bias in prices is: Upwards.
The projected upper bound is: 497.56.
The projected lower bound is: 351.85.
The projected closing price is: 424.70.
Candlesticks
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Momentum Indicators
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 6.9976. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 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 49.37. 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 33 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 -71. This is not a topping or bottoming area. The last signal was a sell 2 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 0 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed down -8.890 at 421.940. Volume was 56% below average (consolidating) and Bollinger Bands were 36% narrower than normal.
Open High Low Close Volume 431.750 431.750 419.050 421.940 31,656,288
Technical Outlook Short Term: Oversold Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 437.68 411.22 232.10 Volatility: 41 118 116 Volume: 37,016,704 73,159,408 83,265,648
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 81.8% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.
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 2 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.