Don’t Bet Against Tesla (NASDAQ:TSLA)

Don’t Bet Against Tesla (NASDAQ:TSLA)

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

Tesla
Ticker: NASDAQ:TSLA
Price: $448.88

Tesla Outlook

Shares of Tesla Inc. TSLA, -2.69% shed 2.69% to $448.88 Thursday, on what proved to be an all-around dismal trading session for the stock market, with the NASDAQ Composite Index COMP, -0.46% falling 0.47% to 11,713.87 and Dow Jones Industrial Average DJIA, -0.06% falling 0.07% to 28,494.20. The stock’s fall snapped a six-day winning streak. Tesla Inc. closed $53.61 short of its 52-week high ($502.49), which the company achieved on September 1st.

The stock underperformed when compared to some of its competitors Thursday, as Ford Motor Co. F, +0.66% rose 0.66% to $7.62, General Motors Co. GM, +2.90% rose 2.90% to $32.59, and NIO Inc. ADR NIO, +5.92% rose 5.92% to $28.07. Trading volume (35.1 M) remained 37.6 million below its 50-day average volume of 72.7 M.

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.

The projected upper bound is: 524.50.

The projected lower bound is: 379.33.

The projected closing price is: 451.92.

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 27 white candles and 23 black candles for a net of 4 white candles.

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.

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 79.2675. 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 56.88. 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 30 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 103.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 25 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 2 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -12.420 at 448.880. Volume was 51% below average (consolidating) and Bollinger Bands were 34% narrower than normal.

Open     High     Low       Close      Volume
450.310  456.570  442.500   448.880    35,672,352
Technical Outlook
Short Term:        Overbought
Intermediate Term: Bearish
Long Term:         Bullish
Moving Averages: 10-period    50-period      200-period
Close:           433.91       402.81         226.96
Volatility:      62           118            116
Volume:          43,474,608   73,386,104     83,699,808

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 97.8% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.

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 13 periods.

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