Who wears short shorts? Tesla (NASDAQ:TSLA) fans, apparently

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Tesla
Ticker: NASDAQ:TSLA
Price: $599.04

Tesla News

In fact, according to the Financial Times, the electric-car company can’t keep pace with demand. It all started earlier this summer when CEO Elon Musk came up with the idea to poke fun of those betting against the stock (short sellers) by offering up red satin Tesla-branded “short shorts” online.

Fast forward five months and some Musk loyalists still haven’t received their saucy little outfits. One disappointed customer aired his frustration to the FT, saying that “Tesla can’t even deliver a pair of shorts in over five months. What did they do with all that money?”

Others took to Twitter TWTR, -0.13% to vent:

Then again, there were also plenty of satisfied customers:

Meanwhile, the targets of Musk’s “short shorts” mockery have had a brutal year, as Tesla shares have ridden a stock split and inclusion in the S&P 500 SPX, +0.88% to a six-fold return and a $568-billion valuation. S3 Partners reported that the shorts have lost $35 billion on their Tesla positions so far this year, including $8.5 billion in November alone.

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 466.61.

The projected upper bound is: 650.22.

The projected lower bound is: 556.31.

The projected closing price is: 603.26.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.

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 68.8842. This is not an overbought or oversold reading. The last signal was a sell 3 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 73.28. 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 2 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 12 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 5.660 at 599.040. Volume was 100% below average (consolidating) and Bollinger Bands were 135% wider than normal.

Open     High     Low     Close      Volume
591.010  599.040  585.500 599.040    48,724
Technical Outlook
Short Term:        Overbought
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period     200-period
Close:           564.02        454.67        285.81
Volatility:      63            65            109
Volume:          41,707,424    39,256,520    70,351,096

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 109.6% 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 11 periods. Our momentum oscillator is currently indicating that TSLA.O is currently in an overbought condition. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

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