Tesla, Inc. (NASDAQ:TSLA) Cars, trucks, and things that fly
The most important number for Tesla will be its sales outlook, after the car maker already reported better-than-expected deliveries for the second quarter but declined to restate its forecast as it did with first-quarter deliveries. Barclays analyst Brian Johnson is concerned about “demand pull forward” that could hurt Tesla’s second-half numbers, and will be looking for profit commentary given his view that the company “prioritizes delivery volume above margin.”
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 235.39.
The projected upper bound is: 276.51.
The projected lower bound is: 240.38.
The projected closing price is: 258.45.
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 25 white candles and 25 black candles.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 82.2096. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 26 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 72.88. 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 buy 32 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 116.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 9 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 31 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 4.640 at 258.180. Volume was 34% below average (neutral) and Bollinger Bands were 1% wider than normal.
Open High Low Close Volume___
255.690 259.960 254.620 258.180 7,048,410
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 245.55 220.06 282.34
Volatility: 32 54 63
Volume: 7,865,877 10,705,596 9,539,040
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 8.6% below 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 25 periods. Our momentum oscillator is currently indicating that TSLA.O is currently in an overbought condition.