Tesla, Inc. (NASDAQ:TSLA) enduring a rough patch

Tesla, Inc. (NASDAQ:TSLA) enduring a rough patch

Tesla, Inc. (NASDAQ:TSLA) enduring a rough patch

At Tesla’s annual shareholders meeting on June 11th Elon Musk was as ebullient as ever. But its shares, which started the year above $300, have plunged close to $200 and its bonds recently traded at an all-time low of close to 80 cents on the dollar. Deliveries of the Model 3, the firm’s mass-market electric vehicle, fell by over a fifth in the first quarter compared with the previous quarter, casting doubt on the firm’s annual sales target.

Tesla raised $2.7bn in convertible debt and stock in May, but questions remain about how much cash it can generate—it burned through over $900m in the first quarter. Tesla may have outsold competitors last year, but faltering demand and a phase-out of EV subsidies in America are tough new challenges it has to face.

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

The projected upper bound is: 234.70.

The projected lower bound is: 190.24.

The projected closing price is: 212.47.

Candlesticks

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

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 61.1558. This is not an overbought or oversold reading. The last signal was a sell 1 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 50.57. 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 7 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 82. This is not a topping or bottoming area. The last signal was a sell 0 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 buy 6 period(s) ago.

Rex Takasugi – TD Profil

TESLA INC closed up 4.650 at 213.910. Volume was 24% below average (neutral) and Bollinger Bands were 6% narrower than normal.

Open High Low Close Volume___
210.380 214.900 207.510 213.910 8,168,260

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

Moving Averages: 10-period 50-period 200-period
Close: 201.79 233.82 290.08
Volatility: 67 61 71
Volume: 13,263,948 12,440,002 9,781,341

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 26.3% below its 200-period moving average and is in an upward 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 bullish on TSLA.O and have had this outlook for the last 0 periods.

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