Tesla, Inc. (NASDAQ:TSLA) company posts fourth-quarter profit that misses expectations

Tesla, Inc. (NASDAQ:TSLA) company posts fourth-quarter profit that misses expectations

Tesla, Inc. (NASDAQ:TSLA) company posts fourth-quarter profit that misses expectations

Tesla reported its second consecutive quarterly profit Wednesday and better-than-expected sales, but its fourth-quarter earnings fell short of analysts’ expectations and sent its shares south after the markets closed.

CEO Elon Musk also announced a major change to the electric carmaker’s executive ranks with the retirement of long-time Chief Financial Officer Deepak Ahuja.

Tesla’s shares, which rose 3.8 percent during the regular session, fell by about 5 percent in after-hours trading. Ahuja is being replaced by Zach Kirkhorn, previously the company’s vice president of finance, Musk told analysts at the end of a conference call announcing the results.

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 321.46.

The projected upper bound is: 345.66.

The projected lower bound is: 270.47.

The projected closing price is: 308.07.

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 28 white candles and 22 black candles for a net of 6 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 83.3392. 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 45.49. 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 97 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 -34. This is not a topping or bottoming area. The last signal was a buy 3 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 sell 6 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 11.310 at 308.770. Volume was 26% above average (neutral) and Bollinger Bands were 16% wider than normal.

Open High Low Close Volume___
300.450 309.000 298.490 308.770 11,250,318

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 307.33 334.33 314.99
Volatility: 89 74 74
Volume: 9,468,149 7,503,304 9,014,370

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 2.0% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. 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 7 periods.

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