Tesla, Inc. (NASDAQ:TSLA) is bringing back free Supercharging on its high-end Model S and Model X

Tesla, Inc. (NASDAQ:TSLA) is bringing back free Supercharging on its high-end Model S and Model X

Tesla, Inc. (NASDAQ:TSLA) is bringing back free Supercharging on its high-end Model S and Model X

Tesla announced Saturday it is bringing back free Supercharging on its high-end Model S and Model X.

We’ve heard that before.

What makes this time different is that the company isn’t just offering the incentive on a few cars or in a limited amount. Instead, the company will offer free lifetime Supercharging to all buyers who purchase a Model S or Model X. It doesn’t have to be a car in inventory, and no referral fee is needed. The only catch is that it only applies to the original owner of the car and isn’t transferable when owners sell the car.

Free, lifetime Supercharging was originally included as standard equipment with every Tesla when charging was rare and buyers were skittish about charging.

Tesla began phasing out free Supercharging at the end of 2016 but has brought it back several times along the way for those with referral codes, as a sales incentive, on certain cars, and for limited amounts, such as 400 kilowatt-hours.

From the beginning, CEO Elon Musk said free Supercharging was designed to give Tesla drivers confidence to take their cars on road trips but was not meant to provide free power for everything a Tesla driver might want to do. In an earnings call last year in the midst of losses for the company, Musk said free Supercharging was “not really sustainable,” and said Tesla would end the practice. Still, it was revived a few times as limited offers on all of its models.

Technical Indicators

Overall, the bias in prices is: Downwards.

The projected upper bound is: 253.23.

The projected lower bound is: 209.87.

The projected closing price is: 231.55.

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 26 white candles and 24 black candles for a net of 2 white candles.

A hammer occurred (a hammer has a long lower shadow and closes near the high). Hammers must appear after a significant decline or when prices are oversold (which appears to be the case with TESLA INC) to be valid. When this occurs, it usually indicates the formation of a support level and is thus considered a bullish pattern.

A hanging man occurred (a hanging man has a very long lower shadow and a small real body). This pattern can be bullish or bearish, depending on the trend. If it occurs during an uptrend it is called a hanging man line and signifies a reversal top. If it occurs during a downtrend (which appears to be the case with TESLA INC) it is called a bullish hammer.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

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.

Rex Takasugi – TD Profile

TESLA INC closed up 2.430 at 230.750. Volume was 48% below average (neutral) and Bollinger Bands were 9% narrower than normal.

Open     High      Low     Close     Volume___
231.880 232.500 225.750 230.750 5,564,200
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 236.86 225.72 280.62
Volatility: 94 60 64
Volume: 9,706,782 9,638,903 9,455,742

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 17.8% below its 200-period moving average and is in an downward 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 bearish on TSLA.O and have had this outlook for the last 5 periods.

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