Tesla, Inc. (NASDAQ:TSLA) home state of California accounted for almost half of all Model 3 registrations through the first 10 months of 2018

Tesla, Inc. (NASDAQ:TSLA) home state of California accounted for almost half of all Model 3 registrations through the first 10 months of 2018

Tesla, Inc. (NASDAQ:TSLA) home state of California accounted for almost half of all Model 3 registrations through the first 10 months of 2018

Tesla Inc.’s home state of California accounted for almost half of all Model 3 registrations through the first 10 months of 2018, a sign that the electric-car maker is wildly popular in the Golden State but not yet ubiquitous in other parts of the country.

Through October 2018, the last month for which full data is available, California registered 39,606 Model 3 sedans, or 49.3 percent of all Model 3 registrations in the U.S., according to IHS Markit. Florida came in second with 4,064, or 5.1 percent. California is the most populous U.S. state with about 40 million residents, almost twice the size of Florida’s population.

IHS Markit tracks “total registrations,” which includes retail sales to individual customers as well as fleet sales.

Tesla began delivering the Model 3s in small numbers in 2017. In January, the Palo Alto, California-based company said it delivered 61,394 Model 3 vehicles during the fourth quarter. The company doesn’t release delivery figures by region or state but typically begins deliveries of new models in California.

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 329.72.

The projected upper bound is: 379.16.

The projected lower bound is: 313.01.

The projected closing price is: 346.09.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 30 white candles and 20 black candles for a net of 10 white candles.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

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 58.7137. This is not an overbought or oversold reading. The last signal was a sell 1 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 54.24. 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 88 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 101.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 2 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 6 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 1.620 at 346.050. Volume was 48% below average (neutral) and Bollinger Bands were 21% narrower than normal.

Open High Low Close Volume___
344.780 352.000 343.500 346.050 4,691,739

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

Moving Averages: 10-period 50-period 200-period
Close: 334.40 341.65 314.60
Volatility: 56 64 73
Volume: 6,144,301 6,891,436 9,139,799

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 10.0% above 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 0 periods.

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