Tesla, Inc. (NASDAQ:TSLA) company is pushing hard to reach high delivery goals
Tesla finished its second best day of the week on the stock market Thursday after a report that it is reaching record sales numbers.
The stock closed up 4.8%, adding more than $1.6 billion to its market cap, which now sits at $36.4 billion. Thursday marked Tesla’s fifth best performance in 2019. Its best day of the year was Tuesday, when the stock spiked more than 8%, rallying after weeks of uneasiness among investors who questioned the company’s financial health. The stock is also on pace for its best week since October 2018.
Shares of Tesla spiked on a report from Electrek that Tesla executives told sales and delivery managers in North America that the company has already delivered 33,000 vehicles in the region this quarter. That’s more than half the number of deliveries the company made in the first quarter of 2019, when it delivered 63,000 cars, falling short of analysts’ consensus estimates of 76,000.
Tesla’s stock has seen a turnaround as it seems to be approaching its goals for delivery and production. Musk previously indicated in an email to employees late last month that Tesla was on pace to reach its production goals for the quarter.
But the company still faces external threats, like the potential impact of tariffs in China. Last month, Loup Ventures co-founder Gene Munster estimated China deliveries would fall from 70,000 to 40,000 vehicles as some Chinese consumers are likely to avoid the brand.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 232.31.
The projected upper bound is: 227.01.
The projected lower bound is: 182.42.
The projected closing price is: 204.71.
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 24 white candles and 26 black candles for a net of 2 black 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 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 86.5597. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 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 44.85. 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 2 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 109.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 2 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 1 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 9.360 at 205.950. Volume was 92% above average (neutral) and Bollinger Bands were 44% wider than normal.
Open High Low Close Volume___
204.440 211.000 201.800 205.950 20,160,540
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 191.32 240.84 292.76
Volatility: 62 60 71
Volume: 14,184,169 11,908,891 9,699,245
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 gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
TESLA INC is currently 29.7% below 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 moderate flows of volume out of TSLA.O (mildly bearish). Our trend forecasting oscillators are currently bearish on TSLA.O and have had this outlook for the last 38 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.
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