Tesla, Inc. (NASDAQ:TSLA) Says It Plans to Open China Design and Research Center
U.S. electric car maker Tesla plans to open a design and research center in China to make “Chinese-style” vehicles, the company said in a recruitment notice on its official WeChat account.
Wednesday’s notice sought to recruit designers and other staff to help fulfill the goal, and called for applications by Feb. 1, but did not identify the center’s location.
“In order to achieve a shift of ‘Made in China’ to ‘Designed in China’, Tesla’s CEO Elon Musk has proposed a very cool thing – set up a design and research center in China,” it read.
It was not immediately clear when the center might begin operations, however.
Tesla’s first factory outside the United States is in the eastern city of Shanghai, and it started delivering China-made Model 3 vehicles this month.
Last week, Musk launched a Model Y electric sports utility vehicle program at the $2 billion factory, with an on-stage dance that raised an online storm.
That was also the week that Tesla’s stock market value hit nearly $89 billion, eclipsing the sum of General Motors’ and Ford’s values for the first time.
The stock move was fueled by a surprise third-quarter profit, progress at the new China factory and better-than-expected fourth quarter deliveries.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 417.64.
The projected upper bound is: 550.11.
The projected lower bound is: 484.71.
The projected closing price is: 517.41.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 31 white candles and 18 black candles for a net of 13 white candles.
A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend. The two candles preceding the falling window were black, which makes this pattern even more 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 68.2012. 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 73.19. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 36 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 0 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 23 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed down -5.010 at 513.490. Volume was 110% above average (neutral) and Bollinger Bands were 121% wider than normal.
Open High Low Close Volume___
493.750 514.460 492.170 513.490 21,736,652
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 491.00 388.14 276.63
Volatility: 69 48 60
Volume: 21,360,216 11,465,448 10,041,693
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 gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
TESLA INC is currently 85.6% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 20 periods. Our momentum oscillator is currently indicating that TSLA.O is currently in an overbought condition.
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