Tesla, Inc. (NASDAQ:TSLA) Cuts Prices Again
- Tesla said on Wednesday it’ll cut prices of its electric vehicles in North America as the company ramps up car production at its Fremont, California, factory after the easing of coronavirus lockdowns.
- The company’s Model S sedans will now be priced from $79,990, and its Model X sport utility vehicles from $84,990, according to its web site. The most affordable Model 3 sedans are going to be priced at $37,990, the web site said.
- Tesla said it will also cut prices in China, the company’s usual practice after price changes in the United States.
Tesla said on Wednesday it will cut prices of its electric vehicles in North America as the firm ramps up car production at its Fremont, California, factory after the easing of coronavirus lockdowns.
The price cut comes as states after lockdowns during which demand for cars waned.
It was not instantly clear by how much Tesla was cutting its prices or when the cuts would take effect.
The company’s Model S sedans will now be priced from $79,990, and its Model X sport utility vehicles from $84,990, according to its web site. The most affordable Model 3 sedan will be priced at $37,990, the web site said.
Tesla said it will also cut prices in China, the company’s usual practice when price changes within the United States.
Tesla China said in a Weibo post that they will cut costs for the Model S and Model X cars it imports, however keep costs of locally-made Model 3 cars unchanged.
Shayne Heffernan Trade Idea
“If you’re long Tesla, stay long. If you’re not, there’s still plenty of room and time to enter the Tesla stock. As long as Elon Musk continues to push the innovation button, good things are bound to happen.” Shayne Heffernan PhD in Economics
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 677.57.
The projected upper bound is: 935.76.
The projected lower bound is: 712.87.
The projected closing price is: 824.32.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black 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 67.5745. This is not an overbought or oversold reading. The last signal was a sell 8 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 60.40. 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 46 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 87. This is not a topping or bottoming area. The last signal was a sell 8 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 15 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 1.990 at 818.870. Volume was 58% below average (consolidating) and Bollinger Bands were 66% narrower than normal.
Open High Low Close Volume 834.500 834.600 815.705 818.870 8,089,736
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 810.34 662.04 475.69 Volatility: 24 129 98 Volume: 11,814,871 17,453,298 13,803,400
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 72.1% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods.
There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. 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 29 periods.
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