Tesla, Inc. (NASDAQ:TSLA) Elon Musk Authentic
A report from The Wall Street Journal on Friday that said Tesla was facing a “deepening criminal investigation” over its public statements about Model 3 production has been met with scepticism on Wall Street.
“We think it will be difficult for prosecutors to prove criminal wrongdoing,” Ben Kallo, an analyst at Baird, said in a note to clients as reported by Bloomberg. Kallo, who has a bullish $US411 price target for the stock, added that “investigators would need to find evidence TSLA made projections it knew would be impossible to achieve, which we believe is a high bar to meet.”
Kallo also said that the article “largely recycled previously reported information” and that Baird found “certain aspects of the article suspect.”
He wasn’t the only Tesla bull sceptical of The Journal’s reporting, which, citing anonymous sources, said Friday that an FBI investigation was focused on Model 3 communications by Tesla as far back as early 2017. The company said it had received “no additional document requests” from the Department of Justice for “months,” while supporters nearly immediately sought to connect the article with short-sellers, or those investors betting against Tesla’s stock price.
“Good question,” CEO Elon Musk added on Twitter in response to a question asking “where is the SEC when the WSJ published old information purely meant to distort the stock and harm investors?”
Another vocal Tesla supporter, Ross Gerber of the Los Angeles firm Gerber Kawasaki, called the article questionable.
“You’ve got to wonder how much the media is being manipulated by Tesla shorts,” he tweeted. “Of course as the stock breaks out they release some BS WSJ article. Mid day. Not questionable at all.”
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 376.60.
The projected lower bound is: 294.27.
The projected closing price is: 335.44.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 25 white candles and 25 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 88.5995. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 12 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 65.99. 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 35 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 171.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 12 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 8 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 3.950 at 334.850. Volume was 100% below average (consolidating) and Bollinger Bands were 32% wider than normal.
Open High Low Close Volume___
337.470 347.160 326.500 334.850 6,392
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 289.65 290.73 311.29
Volatility: 93 92 72
Volume: 12,593,758 10,744,869 8,974,019
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 7.6% 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 volume flowing into and out of TSLA.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on TSLA.O and have had this outlook for the last 3 periods.