Tesla, Inc. (NASDAQ:TSLA) gets order for 15 Cybertrucks to be converted into police vehicles
With Elon Musk reporting that sales for the Tesla (TSLA) Cybertruck have reached 250,000 units, one town in Mexico has reportedly purchased 15 of the electric trucks.
Mayor Adrián Esper Cárdenas of San Luis Potosí, Mexico, put a deposit of $1,500 of his own money down on 15 Cybertrucks, Tesla requires a $100 deposit on the trucks that cost from $49,900 to $69.900 each, which was reportedly a month’s salary for the mayor.
The decision to purchase the Cybertruck by Esper Cárdenas was “common sense” despite not receiving approval from his constituents about the purchase, which he said would save millions annually, the news outlet reported.
“The important thing is that regardless of the fact that the cost can be a little high, the benefit is that if you don’t have to perform maintenance or put gas in them, you’ll be able to save 24 million pesos a year, and with that you’ve paid back half of the investment,” he said during a press conference after reserving the trucks.
Esper Cárdenas said he plans to use the Cybertrucks for police, trash collection, and other types of operations for the town, the news outlet said.
“It’s not about speed, because we don’t want speed. What we’re looking for is torque in order to haul water pipes, the garbage trailers. They’ll have twice the loads of a normal truck,” he said.
Esper Cárdenas is also reportedly hoping for a discount from Musk as he said, “I reserved 10 two-motor and five three-motor models. We’ll take a photo and send it to Elon Musk, see if he gives us a discount.”
At the time of writing, it was unknown if Musk responded to the mayor’s request.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 365.87.
The projected lower bound is: 307.64.
The projected closing price is: 336.76.
A white body occurred (because prices closed higher 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 31 white candles and 19 black candles for a net of 12 white candles.
An engulfing bullish line occurred (where a white candle’s real body completely contains the previous black candle’s real body). The engulfing bullish pattern is bullish during a downtrend (which appears to be the case with TESLA INC). It then signifies that the momentum may be shifting from the bears to the bulls.
If the engulfing bullish pattern occurs during an uptrend, it may be a last engulfing top which indicates a top. The test to see if this is the case is if the next candle closes below the top of the current (white) candle’s real body.
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 21.5492. This is not an overbought or oversold reading. The last signal was a buy 0 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 56.69. 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 5 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 -75. 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 7 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 4.930 at 334.870. Volume was 23% below average (neutral) and Bollinger Bands were 15% narrower than normal.
Open High Low Close Volume___
329.400 336.383 328.687 334.870 6,081,986
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 341.10 292.91 256.12
Volatility: 46 65 59
Volume: 7,627,228 9,100,371 9,370,633
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 30.7% 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 moderate flows of volume into TSLA.O (mildly bullish). Our trend forecasting oscillators are currently bullish on TSLA.O and have had this outlook for the last 58 periods.
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