Tesla (NASDAQ:TSLA) What You Need to Know

$TSLA #Tesla #Auto #Manufacturers #USA #Nasdaq #Stocks #Trading

Tesla
Ticker: NASDAQ:TSLA
Price: $387.79

Tesla News

Shares of Tesla Inc. TSLA, +1.95% surging 3.2% in afternoon trading to $392.54, as they bounced sharply following a brief intraday dip below a key technical level.

The stock was down as much as 7.6% to its intraday low of $351.30, which was hit soon after the open, before recovering. At the intraday low, the stock traded below the 50-day moving average, which currently extends to $364.18, for the first time since April 13.

By 9:47 a.m. Eastern, the stock had climbed back above the 50-day, according to FactSet data, and hasn’t been back there since. From the intraday low, the stock has now bounced 12%.

The stock had previously come as close as 25 cents to the 50-day moving average without falling below it on Sept. 8, when it hit an intraday low of $329.88 versus a 50-day at the time of $329.63.

Many technicians on Wall Street use the 50-day moving average line has a guide to the intermediate-term trend, so they suggest a stock’s outlook remains positive as long as it holds above that line.

Tesla’s stock has now run up 369% year to date, while the S&P 500 SPX, +0.29% has ticked up 0.6%.

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: 462.06.

The projected lower bound is: 316.66.

The projected closing price is: 389.36.

Candlesticks

A white body occurred (because prices closed higher 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 22 white candles and 28 black candles for a net of 6 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 24.7467. This is not an overbought or oversold reading. The last signal was a sell 5 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 48.11. 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 15 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 -56. This is not a topping or bottoming area. The last signal was a buy 10 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 1 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 7.430 at 387.790. Volume was 31% above average (neutral) and Bollinger Bands were 50% wider than normal.

Open     High     Low     Close     Volume
363.800  399.500  351.300 387.790   96,561,064
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period     200-period
Close:           419.12        364.04        200.56
Volatility:      119           123           115
Volume:           85,746,184   79,183,080    84,414,360

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 93.4% above its 200-period moving average and is in an upward 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 bullish on TSLA.O and have had this outlook for the last 28 periods.

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