Tesla (NASDAQ:TSLA) Stock Worth More Than ExxonMobil, Shell and BP Combined

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Tesla
Ticker: NASDAQ:TSLA
Price: $2049.98

Tesla News

Tesla shares values have broken through the $US2,000 mark, as the company heads towards a five-to-one share split and – more importantly for investors – the much anticipated Battery Day.

The Tesla stock is now valued at more than $US380 billion by market cap, and is worth more than ExxonMobil, Shell and BP combined, as well as being the most valuable car maker in the world.

The Californian electric vehicle and energy storage company sits on top of what is referred to as the ESG investing arena (ESG referring to environmental, social, and governance) but is also riding high on the view that it is more alike to tech companies such as Apple and  Google than just an eco-conscious auto maker.

Tesla boss Elon Musk has also declared that Tesla is happy to supply battery and powertrains to other car makers, setting the scene for what is expected to be one of the company’s most important events, Battery Day on September 22.

Among the products expected to be unveiled. or at least talked about in more detail, are the so-called “million-mile battery” it has developed with CATL, and a shift away from the use of cobalt in battiers and a focus on cells such as CATL’s lithium iron phosphate (LFP) batteries in the China-made Model 3.

While LFP batteries are less energy dense than NCA (nickel-cobalt-aluminium) batteries, using them allows Tesla to free up more energy dense batteries that use nickel for other technologies including the Tesla Semi.

For that reason, Musk pleaded with countries to “mine more nickel” at Tesla’s Q2 2020 earnings call.

For Tesla’s three major battery partners – Panasonic, Contemporary Amperex Technology (CATL) and LG Chem – the approach of Battery Day is also of great significance.

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.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 1,410.39.

The projected upper bound is: 2,271.66.

The projected lower bound is: 1,871.38.

The projected closing price is: 2,071.52.

Candlesticks

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 22 white candles and 28 black candles for a net of 6 black candles.

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 5 rising windows in the last 50 candles–this makes the current rising window even more bullish.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 90.5470. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 7 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 78.60. 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 21 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 144.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 7 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 5 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 48.150 at 2,049.980. Volume was 49% above average (neutral) and Bollinger Bands were 120% wider than normal.

Open        High        Low         Close          Volume
2,044.760   2,095.490   2,025.050   2,049.980      21,489,560
Technical Outlook
Short Term:        Overbought
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period      50-period      200-period
Close:           1,727.25       1,393.83       801.10
Volatility:      93             88             104
Volume:          16,207,336     14,409,246     15,671,309

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 gapped up today (bullish) 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 155.9% 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 5 periods. Our momentum oscillator is currently indicating that TSLA.O is currently in an overbought condition.

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