Musk delays release of Tesla, Inc. (NASDAQ:TSLA) pickup truck prototype

Musk delays release of Tesla, Inc. (NASDAQ:TSLA) pickup truck prototype

Musk delays release of Tesla, Inc. (NASDAQ:TSLA) pickup truck prototype

Tesla, Inc. CEO Elon Musk has pushed back the expected unveiling of the company’s long-awaited electric pickup truck to November, though he hasn’t made any firm promises on when the prototype will be released.

Musk first announced plans to put out a pickup truck in late 2013, saying then that it might take about five years.

Musk said on the podcast Recode in November that the truck would be “like a really futuristic-like, cyberpunk, ‘Blade Runner’ pickup truck.”

“It’s gonna be awesome, it’s gonna be amazing. This will be heart-stopping. It stops my heart. It’s like, oh, it’s great,” Musk gushed to Recode host Kara Swisher.

On CBS’s “60 Minutes” in December, Musk said he was “dying to make a pickup truck so bad,” stating he might unveil a prototype this year.

Musk has also said the truck would arrive after Tesla’s small crossover SUV, the Model Y, which expected to start production late next year, according to Business Insider.

The truck is expected to sell below $50,000 and feature “a lot of titanium,” dual-motor all-wheel drive and an adjustable suspension, Business Insider reported.

Tesla is also still working on the all-electric Semi and Roadster, which is expected to go to production next year. Tesla touts that the $200,000 Roadster will be the “quickest car in the world,” reaching speeds of more than 250 mph and a range of 620 miles.

Technical Indicators

Overall, the bias in prices is: Sideways.

By the way, prices are vulnerable to a correction towards 233.55.

The projected upper bound is: 253.93.

The projected lower bound is: 210.01.

The projected closing price is: 231.97.

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 76.7464. This is not an overbought or oversold reading. The last signal was a buy 7 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 54.67. 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 31 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 133.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 8 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 5 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 4.340 at 231.790. Volume was 49% below average (consolidating)(neutral) and Bollinger Bands were 51% narrower than normal.

Open     High      Low     Close     Volume___
230.000 233.760 229.230 231.790 4,802,669
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 222.65 232.85 268.87
Volatility: 33 59 61
Volume: 5,574,925 7,357,023 8,989,323

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 13.8% 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 28 periods.

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