Tesla, Inc. (NASDAQ:TSLA) is ending its customer referral program
Tesla’s customer referral program will come to an end on Feb. 1, chief executive Elon Musk said in a tweet Thursday.
The initiative lets drivers give their friends a referral code to get six months of free charging via Tesla’s Supercharger network.
The premium electric auto manufacturer has made a number of cost-cutting moves of late, as it looks to boost margins and expand profitability. Late last month, the firm cut prices on its Model 3 car in China, while this week it discontinued the lowest-priced versions of the Model S sedan and Model X SUV.
Overall, the bias in prices is: Upwards.
By the way, prices are vulnerable to a correction towards 330.45.
The projected upper bound is: 380.39.
The projected lower bound is: 314.27.
The projected closing price is: 347.33.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 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 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.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
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 72.9744. This is not an overbought or oversold reading. The last signal was a sell 2 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 54.71. 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 89 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 94. This is not a topping or bottoming area. The last signal was a sell 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 buy 7 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 1.260 at 347.310. Volume was 58% below average (consolidating) and Bollinger Bands were 18% narrower than normal.
Open High Low Close Volume___
346.210 351.500 344.150 347.310 3,676,733
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 339.10 341.66 315.00
Volatility: 49 64 73
Volume: 5,815,456 6,808,811 9,063,960
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 10.3% 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 1 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.