Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk said he will unveil the Tesla Cybertruck pickup truck on Nov. 21 at an event in Los Angeles

Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk said he will unveil the Tesla Cybertruck pickup truck on Nov. 21 at an event in Los Angeles

Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk said he will unveil the Tesla Cybertruck pickup truck on Nov. 21 at an event in Los Angeles

Tesla CEO Elon Musk on Wednesday said Tesla will unveil the Cybertruck, its pickup truck on Nov. 21 in Los Angeles. Musk also tweeted that it’s the location and month in the opening credits of the movie “Blade Runner.”

Musk has teased the pickup truck before. In summer 2018, he said the truck would include “power outlets allowing use of heavy duty 240V high power tools in the field all day, no generator needed.” In January, he said that Tesla might be ready to unveil it by the summer. “It will be something quite unique, unlike anything,” Musk said at the time.

Then, in June, Musk said on the podcast “Ride the Lightning” that the Tesla pickup truck “will be better than a [Ford] F-150 in terms of truck-like functionality, and be a better sports car than a standard [Porsche] 911.”

Tesla currently sells three vehicles: the Model S and Model 3 sedans and the Model X sport utility vehicle. It’s also planning to sell a Model Y crossover by the end of 2020, has already unveiled a new version of the Tesla Roadster and a Semi truck.

In Q3, Tesla delivered a surprise profit and told shareholders it’s ahead of schedule on a new factory in Shanghai where it has started trial production runs. Musk said that Tesla is ahead of schedule on the Model Y crossover, due next summer. Tesla also said it’s planning to begin building cars at its European Gigafactory in 2021.

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 272.94.

The projected upper bound is: 355.95.

The projected lower bound is: 301.71.

The projected closing price is: 328.83.

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 31 white candles and 19 black candles for a net of 12 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 71.6363. This is not an overbought or oversold reading. The last signal was a sell 5 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 76.55. 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 sell 73 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 62. This is not a topping or bottoming area. The last signal was a sell 5 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 19 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 9.360 at 326.580. Volume was 2% below average (neutral) and Bollinger Bands were 175% wider than normal.

Open     High      Low     Close     Volume___
318.000 326.720 314.500 326.580 7,940,932
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 317.63 256.18 253.08
Volatility: 106 64 59
Volume: 13,614,396 8,389,739 9,280,093

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 29.0% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. 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 41 periods. Our momentum oscillator is currently indicating that TSLA.O is currently in an overbought condition.

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