Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk Off Twitter for a While

Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk Off Twitter for a While

Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk Off Twitter for a While

Tesla and SpaceX CEO Elon Musk may be a dedicated Twitter user, however he says he’s taking a break from the social media platform. “Off Twitter for a while,” Musk tweeted Monday.

Musk’s Twitter account has over 35 million followers, and by Tuesday morning, his announcement had been retweeted more than 34,000 times and liked more than 433,900 times.

While Musk’s most recent tweets are about NASA astronauts Bob Behnken and Doug Hurley arriving at the International space station aboard SpaceX’s Crew Dragon spacecraft, he’s tweeted in the past about everything and anything, from baby Yoda memes to coronavirus opinions.

And he’s faced legal problems over his tweets. He called British cave diver Vernon Unsworth a “pedo guy” in a 2018 tweet, and was found not liable for damages in a defamation lawsuit. additionally in 2018, Musk mused in a tweet that he may take Tesla private, which eventually led to a $20 million fine and Musk stepping down as chair of Tesla’s board.

More recently, he’s tweeted multiple times concerning the coronavirus pandemic, first, writing “the coronavirus panic is dumb,” and later speaking out against lockdown rules. In mid-March, he mistakenly predicted there would be “probably close to zero new cases in United States too by end of April.” there were more than a million cases in the United States by that time.

“It’s not like I stand by all the tweets I’ve ever done,” Musk told Bloomberg Businessweek in may. “Some of them were undoubtedly very dumb. On balance, the good outweighs the bad.”

Some Twitter followers linked Musk’s recent space achievements with his announcement.

“You’re not allowed to leave and go to Mars while we’re all stuck here with riots, virus panic, murder hornets and ebola,” wrote one Twitter user. “At least take some of us with you.”

Unless it is Musk wanting to stay neutral on the Trump – Twitter front, we don’t blame you. Who would want to be apart of the drama?

Price Performance

Relative Valuation

Technical Indicators

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 702.88.

The projected upper bound is: 987.36.

The projected lower bound is: 793.92.

The projected closing price is: 890.64.

Candlesticks

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 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 90.2663. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 13 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 65.97. 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 51 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 232.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 13 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 0 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -16.540 at 881.560. Volume was 27% below average (neutral) and Bollinger Bands were 64% narrower than normal.

Open      High      Low      Close       Volume
894.700   908.660   871.000  881.560     13,565,596
Technical Outlook
Short Term:        Overbought
Intermediate Term: Bearish
Long Term:         Bullish
Moving Averages: 10-period      50-period        200-period
Close:           832.76         705.02           491.23
Volatility:      51             96               98
Volume:          10,656,628     16,104,049       13,943,714

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 79.5% above its 200-period moving average and is in an downward 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 bearish on TSLA.O and have had this outlook for the last 2 periods.

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