Tesla, Inc. (NASDAQ:TSLA) It is time to create a mecha?

Tesla, Inc. (NASDAQ:TSLA) It is time to create a mecha?

Tesla, Inc. (NASDAQ:TSLA) It is time to create a mecha?

For Tesla (ticker: TSLA) investors, at least, it seems to be. Shares of Elon Musk’s company were ahead more than 6.5% in Tuesday trading following news that should bookend the era of Musk’s now-legendary “going private” tweet.

A federal judge approved settlements of securities-fraud litigation that put a 90-day deadline on Tesla’s moves to add two independent directors to its board; create a permanent committee for reviewing executives’ public statements about the company, while hiring a securities lawyer to mind their use social media; and give Tesla 45 days to find an independent chairman.

Musk can’t be chairman for at least three years, although Tesla can request extensions for the board and chairmanship changes, according to court filings.

He’s praised his company’s cars and animated Japanese movies, discussed a possible tequila brand, and suggested that society has gone long enough without giant robots.

Meanwhile, cars are being made. Earlier this month, the company happily reported some upbeat crash-test safety ratings. A few days before that, it updated its in-car software, bringing drivers new climate controls, navigation, and games. (The release of the company’s next quarterly financial results hasn’t been scheduled yet.)

Analysts are increasingly interested in the outlook for profitability, along with levels of demand for Tesla’s cars. (Afternoon tweets from Fox Business’ Charles Gasparino saying the company is telling bankers it has “no immediate need for cash” may also have helped the stock; that’s consistent with the company’s own statements.)

Tesla stock, meanwhile, is down some 30% since its post “going private” highs; it’s down about 11% in 2018. On Tuesday, at least, investors seemed to breath a sigh of relief.

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 298.22.

The projected upper bound is: 317.79.

The projected lower bound is: 232.78.

The projected closing price is: 275.28.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.

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 75.2971. This is not an overbought or oversold reading. The last signal was a buy 3 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 48.15. 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 26 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 -12. This is not a topping or bottoming area. The last signal was a buy 3 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 8 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 17.000 at 276.590. Volume was 9% below average (neutral) and Bollinger Bands were 8% wider than normal.

Open High Low Close Volume___
265.700 277.375 262.240 276.590 9,526,401

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

Moving Averages: 10-period 50-period 200-period
Close: 265.60 301.16 312.93
Volatility: 79 91 69
Volume: 10,519,775 11,131,786 8,672,952

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 11.6% 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 6 periods.

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