Tesla, Inc. (NASDAQ:TSLA) long waits for maintenance has some customers grumbling

Tesla, Inc. (NASDAQ:TSLA) long waits for maintenance has some customers grumbling

Tesla, Inc. (NASDAQ:TSLA) long waits for maintenance has some customers grumbling

Gus Schmidt was so excited when he received his Tesla Model 3 sedan in August that he tweeted a photo of himself and his wife grinning next to the electric car. Six weeks later, the thrill was gone.

The Fort Lauderdale, Fla., resident damaged his bumper in a low-speed collision and then had to wait three months for the repair shop to get the spare parts from Tesla and fix his car. The unusually long wait for a repair underlines a drawback of being a Tesla customer. The upstart car company has created a coveted luxury brand but is still learning some of the basics of the auto business.

Tesla TSLA, -0.56%   has cranked up its Model 3 production in recent months, enabling buyers like Schmidt to get their vehicles after long waits. But as Tesla’s U.S. sales approach those of luxury auto makers like BMW AG BMW, -2.30%   and Daimler AG’s DAI, -2.19%   Mercedes-Benz, it has encountered new logistical problems, from delivery and servicing of a growing fleet to balancing supply and demand.

Tesla Chief Executive Elon Musk has acknowledged some of the operational challenges, saying on a recent conference call that his No. 1 priority this quarter is to improve the service of its cars. Getting the logistics right is especially crucial this year given Musk has said Tesla will bring down the price of the Model 3 from its current $42,900 base sticker price to the long-promised $35,000 threshold to reach mainstream buyers.

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 319.97.

The projected upper bound is: 341.31.

The projected lower bound is: 268.69.

The projected closing price is: 305.00.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 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.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

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 46.1450. 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 44.41. 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 104 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 8. This is not a topping or bottoming area. The last signal was a buy 10 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 5 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -1.710 at 305.800. Volume was 33% below average (neutral) and Bollinger Bands were 0% narrower than normal.

Open High Low Close Volume___
306.830 307.445 298.500 305.800 5,844,212

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

Moving Averages: 10-period 50-period 200-period
Close: 308.66 329.74 315.77
Volatility: 36 72 74
Volume: 7,364,619 7,601,780 9,060,157

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 3.2% below its 200-period moving average and is in an upward trend. Volatility is low 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.

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