Tesla, Inc. (NASDAQ:TSLA) making headways in vehicle delivery
Tesla Motors, Inc. (TSLA) shares are trading at $324, down 3%. The company announced its quarterly earnings last Wednesday after market close, after which the stock price massively shot up. What’s TSLA stock price forecast now?
Last Wednesday the company reported outstanding third-quarter results and caught many investors off guard last. The profit was massive: $312 million. This was just the third time in the company’s history that it has reported a quarterly profit; the company also set a new earnings record.
Tesla is making headways in vehicle delivery: last quarter it shipped 56,065 Model 3s, up from 18,449 in the second quarter. Total company deliveries were 83,775. The demand for Model 3 looks outstanding; order cancellations from the original August 2017 reservations (totaling 455,000) are now below 20%.
Over 50% of vehicles traded in for a Model 3 were vehicles priced below $35,000 when they were new. This implies that many consumers are paying more than normal to buy a Tesla Model 3, which is a good sign for brand equity and future demand.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 371.55.
The projected lower bound is: 289.11.
The projected closing price is: 330.33.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 25 white candles and 25 black 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.
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 83.5030. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 13 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 63.80. 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 36 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 122.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 13 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 9 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed down -4.950 at 329.900. Volume was 15% below average (neutral) and Bollinger Bands were 42% wider than normal.
Open High Low Close Volume___
328.390 337.900 322.260 329.900 9,126,704
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 294.98 291.15 311.23
Volatility: 93 92 72
Volume: 14,001,752 10,868,949 9,059,679
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 6.0% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. 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 4 periods.