Tesla, Inc. (NASDAQ:TSLA) likely to see year-over-year revenue decline in its first quarter and its third consecutive unprofitable quarter
Tesla TSLA, -1.92% looks likely to see year-over-year revenue decline in its first quarter and its third consecutive unprofitable quarter, despite selling a record number of cars. Investors will be looking for positive free cash flow, a forecast for profit or any signs that Tesla is on a path to profitability, or at least that demand is still strong for Tesla’s cars.
After Tesla announced its third-quarter delivery total, formerly bullish JMP Group analysts downgraded the stock to “hold” and said it was “the first time since covering the stock that we found ourselves wondering whether demand growth for (Tesla’s) cars might be leveling off.”
Chief Executive Elon Musk will attempt to counter that notion while attempting to get production started in China and prepping for the launch of the Model Y. An RBC analyst believes Tesla might move up that mid-SUV — which is expected to start production late next year — to help jolt growth.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 241.63.
The projected upper bound is: 275.31.
The projected lower bound is: 239.34.
The projected closing price is: 257.32.
A black body occurred (because prices closed lower 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 26 white candles and 24 black candles for a net of 2 white candles.
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 76.8614. This is not an overbought or oversold reading. The last signal was a sell 0 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 61.62. 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 60 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 90. 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 6 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed down -5.020 at 256.950. Volume was 24% below average (neutral) and Bollinger Bands were 3% wider than normal.
Open High Low Close Volume___
260.700 262.800 255.100 256.950 5,753,666
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 250.85 235.18 254.78
Volatility: 27 49 58
Volume: 7,246,924 6,834,171 9,029,137
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 0.9% 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 28 periods.
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