Tesla, Inc. (NASDAQ:TSLA) An oil conspiracy theory

Tesla, Inc. (NASDAQ:TSLA) An oil conspiracy theory

Tesla, Inc. (NASDAQ:TSLA) An oil conspiracy theory

To get a sense of Musk’s distrust of the fossil fuel industry, you don’t have to go back far.

In an email to his workforce in June, Musk alleged attempts by a former employee, later identified as Martin Tripp, to “sabotage” the company. The letter described “a long list of organisations that want Tesla to die,” including, Musk said, the oil industry. Tripp has since filed a whistle-blower complaint with the SEC claiming Tesla made misstatements to investors and is seeking $US1 million in damages from Musk’s public condemnation.

This is what Musk wrote in his email: “The oil and gas companies, the wealthiest industry in the world – they don’t love the idea of Tesla advancing the progress of solar power and electric cars. Don’t want to blow your mind, but rumour has it that those companies are sometimes not super nice. Then there are the multitude of big gas/diesel car company competitors. If they’re willing to cheat so much about emissions, maybe they’re willing to cheat in other ways?”

Musk also sought to clarify his comment about “funding secured” for the take private transaction. He wrote on Monday that, “Going back almost two years, the Saudi Arabian sovereign wealth fund has approached me multiple times about taking Tesla private.”

Lasko added, “The SEC likely would ask Musk about the substance of his discussions with the Saudis, with the board, and with major shareholders: What was the structure of the proposed transaction, what was the price tag, and what did Saudi managing director say that made Musk feel comfortable tweeting “funding secured”? What did Musk tell the board about the proposed structure of the deal and where the money would come from?

Overall, the bias in prices is: Upwards.

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

By the way, prices are vulnerable to a correction towards 327.63.

The projected upper bound is: 387.38.

The projected lower bound is: 309.94.

The projected closing price is: 348.66.

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 25 white candles and 25 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 26.5932. 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 55.49. 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 39 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 43. This is not a topping or bottoming area. The last signal was a sell 3 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 8 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -8.770 at 347.640. Volume was 22% below average (neutral) and Bollinger Bands were 70% wider than normal.

Open High Low Close Volume___
358.450 359.199 347.100 347.640 6,986,427

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

Moving Averages: 10-period 50-period 200-period
Close: 350.24 330.26 318.16
Volatility: 113 74 58
Volume: 15,719,830 10,655,166 7,776,190

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 9.3% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 5 periods.

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