Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

  • Elon Musk, founder and CEO of Tesla Motors, is revered for his visionary ideas: a mass-market electric car, a private space transport company, a mode of regional transportation that relies on vacuum-sealed tubes.
  • On Monday, Musk revealed his latest groundbreaking concept in a bid to once again transform the automobile industry: a gasoline-powered car.
  • At a press conference held at the automaker’s headquarters, Musk announced that Tesla will begin mass production of a gas-powered vehicle in 2022. He plans to call this vehicle the Model T.
  • “We can definitely make a innovative new car, but that’s not the hard part,” Musk said. “The hard part is, how do you make an innovative new car that Americans actually want to buy? We think we have the answer.”

Tesla, Inc., formerly Tesla Motors, Inc., designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage. The Automotive segment includes the design, development, manufacturing, and sales of electric vehicles. The Energy generation and storage segment includes the design, manufacture, installation, and sale or lease of stationary energy storage products and solar energy systems to residential and commercial customers, or sale of electricity generated by its solar energy systems to customers. The Company produces and distributes two fully electric vehicles, the Model S sedan and the Model X sport utility vehicle (SUV). It also offers Model 3, a sedan designed for the mass market. It develops energy storage products for use in homes, commercial facilities and utility sites.

Overall, the bias in prices is: Downwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 365.84.

The projected lower bound is: 320.35.

The projected closing price is: 343.10.

TESLA INC closed down -13.940 at 342.940. Volume was 4% above average (neutral) and Bollinger Bands were 3% narrower than normal.

Open           High           Low              Close           Volume
349.650      351.750      342.670      342.940      7,493,654

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

Moving Averages: 10-period        50-period       200-period
Close:                       346.67             353.01            308.64
Volatility:                30                     41                    43
Volume:                   6,321,002       5,931,384      6,370,349

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 gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
TESLA INC is currently 11.1% above its 200-period moving average and is in an downward 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 volume flowing into and out of TSLA.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on TSLA.O and have had this outlook for the last 9 periods.

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 72.1477. This is not an overbought or oversold reading. The last signal was a sell 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 42.88. 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 73 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 -41. This is not a topping or bottoming area. The last signal was a buy 5 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 sell 0 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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