Tesla, Inc. (NASDAQ:TSLA) Climbs 3.21% Time to Sell

Tesla, Inc. (NASDAQ:TSLA) Climbs 3.21% Time to Sell

Tesla, Inc. (NASDAQ:TSLA) Climbs 3.21% Time to Sell

Tesla is making significant progress in ramping up production of its Model 3 electric car, according to one Wall Street firm, but that looks to be hype.

KeyBanc Capital Markets significantly raised its second-quarter Model 3 delivery estimate to 30,000 from 20,000, citing its conversations with Tesla dealers.

“Our checks with sales centers indicate Model 3 deliveries are tracking ~50% higher than our prior estimates for the quarter, prompting us to raise our estimates,” analyst Brad Erickson said in a note to clients Monday. “While the longer-term debate on TSLA remains more balanced … we maintain that evidence supporting the bear case is not likely to emerge in the near term, in our view.” But KeyBanc look to be talking through their pocket.

Tesla’s stock closed up 3.2 percent Tuesday. Its shares rose 6.7 percent this year through Monday versus the S&P 500’s 4.1 percent gain.

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 371.30.

The projected lower bound is: 317.85.

The projected closing price is: 344.58.

Candlesticks

A black body occurred (because prices closed lower 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 26 white candles and 24 black candles for a net of 2 white candles.

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend.

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 81.7717. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 3 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 71.35. 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 49 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 165.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 15 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 9 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 10.670 at 342.770. Volume was 187% above average (trending) and Bollinger Bands were 48% wider than normal.

Open High Low Close Volume___
344.700 354.970 338.000 342.770 22,347,404

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

Moving Averages: 10-period 50-period 200-period
Close: 308.43 294.35 322.78
Volatility: 63 58 50
Volume: 10,647,538 8,457,505 6,708,936

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 gapped up today (bullish) on heavy volume. Possibility of a Breakaway Gap which usually signifies the beginning of a major market move. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.

TESLA INC is currently 6.2% above its 200-period moving average and is in an upward 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 moderate flows of volume into TSLA.O (turning bearish). Our trend forecasting oscillators are currently bullish on TSLA.O and have had this outlook for the last 4 periods and we are looking to short. Our momentum oscillator is currently indicating that TSLA.O is currently in an overbought condition.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH