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Thursday, August 5, 2021

Elon Musk’s Personal Wealth is Soaring Along With Tesla (NASDAQ:TSLA) Stock

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

Price: $1887.09

Company News

The CEO’s net worth increased by nearly $8 billion on Monday as Tesla’s stock price jumped 11% and closed at an all-time high. Musk’s net worth is now $84.8 billion, making him the world’s fourth-richest person, according to the Bloomberg Billionaires Index.

Musk overtook Bernard Arnault, the French billionaire and CEO of the luxury brand LVMH, to secure the position on the list. He now sits behind Facebook CEO Mark Zuckerberg, who has a net worth of $99 billion.

Tesla shares have been on a tear this year, gaining roughly 349% and notching several highs. The company has become the most valuable automaker in the world, fueled by solid vehicle sales during the coronavirus pandemic, a streak of profitable earnings, and its eligibility for inclusion in the popular S&P 500 index.

Overall, Musk’s net worth has grown by $57.2 billion this year, the second-largest gain behind Jeff Bezos’ $73 billion increase. The Amazon CEO, worth $188 billion, is the richest person in the world.

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: 2,105.06.

The projected lower bound is: 1,706.61.

The projected closing price is: 1,905.83.


A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 21 white candles and 29 black candles for a net of 8 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 94.8868. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 4 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 74.33. 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 18 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 211.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 4 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 buy 2 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 51.450 at 1,887.090. Volume was 12% above average (neutral) and Bollinger Bands were 45% wider than normal.

Open        High       Low          Close        Volume
1,898.990   1,923.900  1,845.110    1,887.090    16,474,491
Technical Outlook
Short Term:        Overbought
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period      200-period
Close:           1,576.95      1,334.00       776.19
Volatility:      97            91             103
Volume:          12,763,342    14,240,474     15,510,348

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 is currently 143.1% 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 2 periods. Our momentum oscillator is currently indicating that TSLA.O is currently in an overbought condition.

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