Tesla Inc. is set to break ground on its first gigafactory outside the U.S.
“Looking forward to breaking ground on the @Tesla Shanghai Gigafactory today!” Chief Executive Elon Musk tweeted Monday, Shanghai time.
“Aiming to finish initial construction this summer, start Model 3 production end of year & reach high volume production next year,” Musk said in a follow-up tweet.
Tesla TSLA, +5.77% bought the land for the factory outside Shanghai in October for $140 million. Tesla has said it intends to produce up to 500,000 cars a year at the 210-acre facility within a decade. Shanghai’s government has said limited production at the plant could begin by the second half of 2019, CNBC reported last month.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 355.85.
The projected lower bound is: 281.80.
The projected closing price is: 318.82.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white 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 30.5327. This is not an overbought or oversold reading. The last signal was a sell 2 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 45.52. 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 80 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 -53. This is not a topping or bottoming area. The last signal was a buy 6 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 sell 12 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 17.330 at 317.690. Volume was 20% below average (neutral) and Bollinger Bands were 29% wider than normal.
Open High Low Close Volume___
306.000 318.000 302.730 317.690 7,394,116
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 316.76 338.62 312.41
Volatility: 108 75 75
Volume: 8,164,612 8,481,551 9,364,812
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 1.7% above its 200-period moving average and is in an downward 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 bearish on TSLA.O and have had this outlook for the last 12 periods.
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