Tesla (NASDAQ:TSLA) Superchargers Deployed by the Company has Crossed 20,000 Globally

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Tesla
Ticker: NASDAQ:TSLA
Price: $429.95

Tesla News

Tesla describes the Supercharger network as the “world’s fastest charging network.” The Elon Musk-led company has been looking to expand it aggressively, particularly in urban settings, but has frequently fallen short of its stated targets.

The EV maker planned to have 18,000 Superchargers in its network as of 2018-end, but the actual number of deployed units was at 12,000 by the end of the year.

Tesla introduced a “completely new architecture” for EV charging, called V3, in March last year. Musk said in May 2019 that the company was planning to speed up and bring more Superchargers soon and that it had earlier “slowed down a bit to allow Supercharger V3 production to get going.”

Why It Matters: The Palo Alto-based EV maker reported having 17,467 Superchargers in its network as of September, suggesting that the company is, in fact, deploying the new units in the charging network relatively faster.

Tesla was also reported to be expanding the Supercharger presence in another 42 of Target Corporation TGT stores in September.

The company has also looked to expand its destination charging network, in partnership with hotels, restaurants, shopping centers, and resorts.

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: 499.43.

The projected lower bound is: 359.76.

The projected closing price is: 429.59.

Candlesticks

A black body occurred (because prices closed lower 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 24 white candles and 26 black candles for a net of 2 black candles.

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 84.0005. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 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 53.07. 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 46 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 0 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 1 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -8.140 at 429.950. Volume was 99% below average (consolidating) and Bollinger Bands were 45% narrower than normal.

Open     High     Low     Close     Volume
436.100  436.570  424.280 429.950   652,498
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bearish
Long Term:         Bullish
Moving Averages: 10-period     50-period     200-period
Close:           416.33        422.73        252.48
Volatility:      65            110           115
Volume:          26,620,294    58,284,476    78,065,656

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 70.3% above its 200-period moving average and is in an downward trend. Volatility is relatively normal 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 5 periods.

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