Tesla, Inc. (NASDAQ:TSLA) Faces Difficulty to Reach Delivery Target for Q2

Tesla, Inc. (NASDAQ:TSLA) Faces Difficulty to Reach Delivery Target for Q2

Tesla, Inc. (NASDAQ:TSLA) Faces Difficulty to Reach Delivery Target for Q2

Tesla, Inc. TSLA has delivered 49,000 vehicles in North America so far in second-quarter 2019, per Reuters. According to Electrek, this is below the electric vehicle (EV) giant’s expectation and is likely to affect its goal of creating a record for new vehicle delivery in the quarter.

In first-quarter 2019, Tesla’s vehicle production and delivery numbers witnessed sequential declines of 10.9% and 31%, respectively. In the same quarter, it managed to produce roughly 77,100 vehicles — consisting of 62,950 Model 3, and 14,150 Model S and X. Out of the total delivered figure of 63,000 units, the company’s Model 3 accounted for 50,900 while Model S and X were 12,100. This raised concerns about its ability to make profits and meet its delivery targets while encountering issues pertaining to cash flow and manufacturing.

However, Tesla’s chief executive officer, Elon Musk, stated that the company has enough orders to set a record for vehicle deliveries in the second quarter. In a leaked email, he has added that there is no scarcity of orders but right vehicles are not all in right locations yet.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 241.70.

The projected lower bound is: 201.96.

The projected closing price is: 221.83.

Candlesticks

A white body occurred (because prices closed higher than they opened).
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 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 43.0171. This is not an overbought or oversold reading. The last signal was a sell 11 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 54.65. 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 17 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 26. This is not a topping or bottoming area. The last signal was a sell 6 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 16 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 3.570 at 222.840. Volume was 43% below average (neutral) and Bollinger Bands were 4% wider than normal.

Open High Low Close Volume___
219.450 222.900 217.350 222.840 6,339,710

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

Moving Averages: 10-period     50-period     200-period
Close: 221.81 223.55 286.47
Volatility: 37 58 69
Volume: 8,588,643 12,118,569 9,705,297

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 22.2% below its 200-period moving average and is in an upward trend. Volatility is low 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 10 periods.

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