Tesla, Inc. (NASDAQ:TSLA) electric-car maker gets set to unveil its Model Y
Tesla shares were up 1% Thursday as investors anticipated the rollout of the Model Y, a sports-utility-vehicle crossover which will share 75% of its parts with the Model 3.The unveiling event is set for 8 p.m. PT at the electric-car maker’s design center in Hawthorne, California. It will be live streamed on Tesla’s website.
Shayne Heffernan “While the SEC are allowed to openly attack and hunt Musk there is no reason to hold TSLA”
“We believe rolling out the red carpet for the next generation EV SUV cross over model could be a potential game changer for Musk & Co. when this product goes into full production in 2020,” wrote Wedbush analyst Dan Ives. Ives maintained his “outperform” rating and $390 price target, a 33% rise from current trading.
While some analysts fear cannibalization of Model 3 demand, Ives, a noted Tesla bull, believes the Model 3 will remain central to Tesla’s growth plans with the Model Y delivering complimentary demand.
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 310.49.
The projected upper bound is: 320.94.
The projected lower bound is: 257.26.
The projected closing price is: 289.10.
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 28 white candles and 22 black candles for a net of 6 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 69.8175. This is not an overbought or oversold reading. The last signal was a buy 4 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 45.92. 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 127 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 1. This is not a topping or bottoming area. The last signal was a buy 4 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 0 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 1.000 at 289.960. Volume was 9% below average (neutral) and Bollinger Bands were 29% narrower than normal.
Open High Low Close Volume___
292.450 295.390 288.290 289.960 7,103,447
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 284.69 307.64 316.50
Volatility: 61 64 75
Volume: 11,621,511 8,408,520 9,322,754
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 8.4% below its 200-period moving average and is in an downward trend. Volatility is relatively normal 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 16 periods.