Tesla, Inc. (NASDAQ:TSLA) bleeding money like crazy

Tesla, Inc. (NASDAQ:TSLA) bleeding money like crazy

Tesla, Inc. (NASDAQ:TSLA) bleeding money like crazy

Tesla almost died earlier this year, CEO Elon Musk said Sunday night in an interview with Axios that aired on HBO.

Musk said the company was “bleeding money like crazy” as it worked through the Model 3 production ramp in the spring and summer. He said the company “came within single-digit” weeks of death before it was able to meet its Model 3 production goals.

“Tesla really faced a severe threat of death due to the Model 3 production ramp,” Musk said. “Essentially, the company was bleeding money like crazy, and if we didn’t solve these problems in a very short period of time, we would die. And it was extremely difficult to solve them.”

Musk also talked about the personal toll working nonstop during the production ramp took on him, calling it “very painful.”

Musk also talked about the personal toll working nonstop during the production ramp took on him, calling it “very painful.”

“It hurts my brain and my heart,” Musk said. “It hurts. It is not recommended for anyone. I just did it because if I didn’t do it… there was a good chance Tesla would die.”

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 318.53.

The projected upper bound is: 366.56.

The projected lower bound is: 286.56.

The projected closing price is: 326.56.

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 28 white candles and 22 black candles for a net of 6 white 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 17.5279. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 12 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 48.60. 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 53 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 -176.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 2 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 7 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -12.360 at 325.830. Volume was 59% below average (consolidating) and Bollinger Bands were 60% narrower than normal.

Open High Low Close Volume___
334.345 337.500 325.550 325.830 4,202,642

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

Moving Averages: 10-period 50-period 200-period
Close: 343.23 306.28 311.23
Volatility: 48 88 71
Volume: 6,096,420 10,048,287 9,145,266

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 4.7% above its 200-period moving average and is in an upward 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 moderate flows of volume into TSLA.O (mildly bullish). Our trend forecasting oscillators are currently bullish on TSLA.O and have had this outlook for the last 21 periods.

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