Tesla, Inc. (NASDAQ:TSLA) facing doubts over meeting its production goals

Tesla, Inc. (NASDAQ:TSLA) facing doubts over meeting its production goals

Tesla, Inc. (NASDAQ:TSLA) facing doubts over meeting its production goals

Tesla investors are regaining confidence in a quieter Elon Musk — even as they question the company’s ability to hit its production goals for the second quarter.

The automaker’s stock rose by as much as 4.3% Tuesday and is up by more than 7% over the last four trading days, giving investors a short respite from a tough year for Tesla. Its shares have fallen by about a third so far this year, shaving almost $19 billion off its market value since Dec. 31.

Musk has been largely laying low on Twitter after reaching an agreement in April with federal securities regulators governing his social media use. On Monday, he claimed he was deleting his Twitter account before changing his profile picture to black and his Twitter handle to “Daddy DotCom,” presumably in honor of Father’s Day on Sunday.

The company has produced 1,000 Model 3s on just one day since Musk sent that email, Business Insider reported Tuesday, citing documents describing Tesla’s daily output rate for one segment of the Model 3 production.

Ives said he too doubts Tesla will hit that goal.

Tesla’s goal of producing 360,000 to 370,000 vehicles for the year is a “herculean task,” he said. However, Ives said he estimates Tesla will be able to produce 345,000 to 350,000 vehicles, which would be the closest Musk has ever come to reaching one of his production targets and gives investors hope.

Tesla is set to release its second-quarter production numbers as soon as July 1 and earnings on July 30.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 243.80.

The projected lower bound is: 203.67.

The projected closing price is: 223.74.

Candlesticks

A black body occurred (because prices closed lower 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 21 white candles and 29 black candles for a net of 8 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 67.3585. This is not an overbought or oversold reading. The last signal was a sell 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 57.23. 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 10 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 122.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 3 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 9 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -0.290 at 224.740. Volume was 17% above average (neutral) and Bollinger Bands were 3% wider than normal.

Open High Low Close Volume___
228.720 234.740 222.560 224.740 12,715,788

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

Moving Averages: 10-period 50-period 200-period
Close: 212.49 230.43 288.72
Volatility: 48 58 71
Volume: 12,782,681 12,195,545 9,802,792

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 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 3 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH