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Tesla, Inc. (NASDAQ:TSLA) energy storage segment is growing rapidly

Tesla, Inc. (NASDAQ:TSLA) energy storage segment is growing rapidly

Tesla’s energy storage segment is growing rapidly. In Q2, it deployed 415 megawatt-hours of energy storage capacity, up 81% year over year. In addition, management said its residential energy storage solution, called a Powerwall, is now installed at over 50,000 different locations.

Zooming out beyond a single quarter, Tesla deployed 1.04 gigawatt-hours of energy storage capacity in 2018, nearly tripling the 358 megawatt-hours of energy storage the company deployed in 2017. 

Today, the total footprint of Tesla’s energy storage products represents a cumulative capacity of over 2 gigawatt-hours — and the company believes its launch of Megapack will help this number “accelerate exponentially in the coming years.”

Its second-quarter update said that, “Additional cell supply combined with our new module line designed by Tesla Grohmann enabled a step change in energy storage production.”

Now Tesla just needs demand to keep growing — something the launch of a new and improved energy storage product may help along.

Overall, the bias in prices is: Downwards.

By the way, prices are vulnerable to a correction towards 238.61.

The projected upper bound is: 259.21.

The projected lower bound is: 212.63.

The projected closing price is: 235.92.


A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white 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 17.6185. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 5 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 48.40. 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 sell 2 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 -91. This is not a topping or bottoming area. The last signal was a buy 0 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 2 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 7.730 at 235.770. Volume was 13% below average (neutral) and Bollinger Bands were 1% narrower than normal.

Open     High      Low     Close     Volume___
227.090 235.940 226.033 235.770 9,273,331
Technical Outlook 
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 249.23 221.50 281.44
Volatility: 92 66 64
Volume: 9,438,812 11,067,102 9,497,195

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 16.2% below its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 31 periods.

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