Elon Musk said he is “very confident” Tesla, Inc. (NASDAQ:TSLA) would be able to offer robotaxis next year

Elon Musk said he is “very confident” Tesla, Inc. (NASDAQ:TSLA) would be able to offer robotaxis next year

Elon Musk said he is “very confident” Tesla, Inc. (NASDAQ:TSLA) would be able to offer robotaxis next year

Tesla CEO Elon Musk said that the company should have robotaxis on the roads in 2020.

“I feel very confident predicting autonomous robotaxis for Tesla next year,” Musk said on stage at the Tesla Autonomy Investor Day in Palo Alto, California. They won’t be “in all jurisdictions, because we won’t have regulatory approval everywhere, but I am confident we will have at least regulatory approval somewhere, literally next year,” he said.

Musk based his optimism on the amount of data his company is able to gather from Tesla vehicles already on the road today, which it then uses to improve its software.

All Tesla cars being produced today have the hardware on board that’s required for full self-driving, Musk said, promising that, “all you need to do is improve the software.”

Musk also predicted that in two years, Tesla will be making cars with no steering wheels or pedals.

While the CEO repeated that Tesla will have over 1 million robotaxis on the road next year, and he expects to be “operating robotaxis next year with no one in them,” he did also warn investors, “Sometimes I am not on time, but I get it done.”

In the past, Elon Musk’s forecasts for Tesla have missed the mark. Tesla was two years late with the launch of the Model X, its first all-electric SUV. And it was two years late in delivering semi-autonomous features to eager drivers. When Tesla began to discuss its ambitions in self-driving technology in 2016, Musk said they would conduct a hands-free trip across the US by late 2017. They have yet to complete that mission.

Tesla and Musk have previously claimed that their cars are 40% safer than others when drivers have Autopilot engaged. A NHTSA study Tesla cited to support that claim has been debunked by independent researchers, Quality Control Systems. NHTSA has said it is reviewing QCS’ findings.

There have been at least three fatal accidents in the US involving Tesla drivers with Autopilot engaged dating back to the death of Joshua Brown in Florida in 2106.

Tesla shares barely budged during the “Autonomy Day” event, and ended down about 4% for the day.

Overall, the bias in prices is: Downwards.

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

The projected upper bound is: 285.32.

The projected lower bound is: 238.39.

The projected closing price is: 261.85.


A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.

A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend. There have been 6 falling windows in the last 50 candles–this makes the current falling window even more bearish.

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 63.8363. This is not an overbought or oversold reading. The last signal was a sell 11 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 40.82. 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 buy 153 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 -101.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 3 period(s) ago.


The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 0 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -10.510 at 262.750. Volume was 44% above average (neutral) and Bollinger Bands were 44% narrower than normal.

Open High Low Close Volume___
269.000 269.680 262.480 262.750 12,147,141

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 270.47 284.46 309.23
Volatility: 34 52 73
Volume: 8,041,913 8,962,078 9,186,417

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.


TESLA INC gapped down today (bearish) 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 15.0% below 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 6 periods.

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One Response to "Elon Musk said he is “very confident” Tesla, Inc. (NASDAQ:TSLA) would be able to offer robotaxis next year"

  1. Paul Ebeling   April 23, 2019 at 7:15 am

    Mate, Elon Musk is always confident, Have a happy day. Paul

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