Tesla, Inc. (NASDAQ:TSLA) engineers show ventilator prototype on YouTube
Engineers at Tesla showed a prototype for a ventilator on Sunday evening in a video published on the company’s YouTube channel, as hospitals around the country overwhelmed by coronavirus patients face device shortages.
The design for the ventilators relies heavily on Tesla car parts, one of the engineers said, enabling the company to redeploy existing stock and produce the devices quickly.
The video comes two weeks after chief executive Elon Musk said Tesla planned to reopen its New York factory to produce ventilators.
The timeline for production was not specified in the video.
“There’s still a lot of work to do,” said one of the engineers, “but we’re giving it our best effort.”
Governments globally have appealed to automakers and aerospace companies to help procure or make ventilators and other medical equipment amid the increasing number of coronavirus infections.
More than a million people have been infected worldwide by the coronavirus, while over 65,000 have been killed. The United States has the most number of cases at above 300,000.
On March 30th, Ford said it would produce 50,000 ventilators in the following 100 days at a plant in Michigan in cooperation with General Electric’s healthcare unit, and could then build 30,000 per month as needed.
Mr Musk said on March 31st that Tesla planned to supply FDA-approved ventilators free of cost to hospitals within regions where the electric carmaker delivers.
The Financial Times has reported that the devices donated by Mr Musk to some New York City hospitals were not the type of ventilators that have been in demand for use in intensive-care units. Rather, they were Bilevel Positive Airway Pressure machines, typically used to treat sleep apnea but recently approved by the FDA as an alternative in the event of a ventilator shortage.
Tesla did not immediately respond to a request for comment.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 568.51.
The projected upper bound is: 633.47.
The projected lower bound is: 322.86.
The projected closing price is: 478.17.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 black 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 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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 17.3153. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 4 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 42.12. 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 buy 11 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 23. This is not a topping or bottoming area. The last signal was a buy 10 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 6 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 25.540 at 480.010. Volume was 27% above average (neutral) and Bollinger Bands were 10% wider than normal.
Open High Low Close Volume___
509.500 515.490 468.390 480.010 22,562,076
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 496.32 648.60 386.87
Volatility: 125 157 94
Volume: 17,791,520 21,060,776 12,413,944
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.
TESLA INC is currently 24.1% 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 23 periods.
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