Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

In India’s passenger vehicle market sales have topped the 3 million unit mark for the first time in the just-ended fiscal year. This year, with vehicle makers dropping prices by as much as 15% in some of the states after the July 1 introduction of the Goods and Services Tax (GST), Society of Indian Automobile Manufacturers (SIAM) has predicted a 7-9% growth rate for this sector. If this prediction is true, India will consolidate its position as the third biggest auto market in the world, according to rating agency CARE.

Elon Musk has a very healthy support base amongst founders and business leaders in India. Few of these supporters are willing to become Tesla’s first customers, who can influence decisions of other buyers in India. Digital payments provider Paytm’s founder Vijay Shekhar Sharma, Vishal Gondal of GOQii and Tech Mahindra’s chief strategy officer Jagdish Mitra who coughed up $1,000 for pre-bookings last year, are prominent names who have openly expressed their interests in this regard.

Godal says – “I am a big fan of Elon Musk and I will do anything to support a thinker like him, even in a small way.” According to Vijay Sharma – “It’s about worshipping the vehicle of the future and the man behind it…Tesla epitomises not just sustainable transportation but also the entrepreneurship streak through Musk and there is a great personality match.”

Along with these founders, there exists a niche group of industrialists such as Anand Mahindra chairman the Mahindra group and Pawan Munjal, Chairman Hero MotoCorp Ltd. Mahindra is the only car maker in India which sells all-electric vehicles under Reva brand of cars. Its e2O and the e-Verito cars are the only two all-electric vehicles available in the country and, the entry of Tesla would add to that segment, which is likely to grow in demand over the next couple of years. Earlier this year Anand Mahindra had tweeted to Musk saying – “Time you got out here Elon. You don’t want to leave the whole market to Mahindra, do you? The more the merrier- and greener!”

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: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

By the way, prices are vulnerable to a correction towards 337.90.

The projected upper bound is: 373.46.

The projected lower bound is: 320.55.

The projected closing price is: 347.01.

TESLA INC closed down -4.460 at 347.460. Volume was 100% below average (consolidating) and Bollinger Bands were 4% narrower than normal.

Open     High    Low    Close     Volume
352.910     354.000     345.800     347.460     3,753

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

Moving Averages: 10-period      50-period     200-period
Close:      358.56     348.98     280.20
Volatility:      31     49     43
Volume:      4,817,452      8,208,706     6,160,304

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 24.0% above its 200-period moving average and is in an upward trend. Volatility is relatively normal 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 8 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 21.7049. This is not an overbought or oversold reading. The last signal was a sell 6 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 49.65. 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 sell 38 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 -22. 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 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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