Elon Musk Says 500k+ Vehicle Production in 2020 Within Reach for Tesla (NASDAQ:TSLA)

Elon Musk Says 500k+ Vehicle Production in 2020 Within Reach for Tesla (NASDAQ:TSLA)

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

Tesla
Ticker: NASDAQ:TSLA
Price: $425.30

Tesla Outlook

Tesla (TSLA) is attempting to increase production by over 17% quarter-over-quarter to produce 500,000 vehicles total in 2020, according to CEO Elon Musk in a newly leaked email.

In a new email to employees, Musk stated that he sees Tesla reaching production of 500,000 vehicles in 2020:

“It will be tough but super exciting if we can exceed 500,000 cars made in a single year for the first time in Tesla history. When we started Tesla just over 16 years ago, I never thought we would get this far, but, thanks to your hard work and ingenuity, we actually have a chance of making half a million cars in a single year.”

The CEO said that it will require an increase production output from Tesla in Q4.

“It all comes down to Q4. Please take whatever steps you can think of to improve output (while increasing quality).”

Tesla has produced just short 330,000 vehicles during the first three quarters of the year, meaning that it would need to produce 170,000 vehicles in Q4 alone to reach 500,000 vehicles produced in 2020.

The automaker just announced that it had record production of 145,000 cars in Q3.

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: 500.33.

The projected lower bound is: 355.47.

The projected closing price is: 427.90.

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 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 33.5611. 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 53.16. 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 24 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 16. This is not a topping or bottoming area. The last signal was a buy 19 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 10 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 11.320 at 425.300. Volume was 42% below average (neutral) and Bollinger Bands were 20% narrower than normal.

Open     High      Low      Close      Volume
419.870  429.900  413.845   425.300    43,127,708
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bearish
Long Term:         Bullish
Moving Averages: 10-period      50-period      200-period
Close:           419.26         385.13         216.20
Volatility:      69             118            116
Volume:          57,114,428     74,009,448     84,190,376

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 96.7% 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 7 periods.

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