Tesla, Inc. (NASDAQ:TSLA) misses big on first-quarter earnings

Tesla, Inc. (NASDAQ:TSLA) misses big on first-quarter earnings

Tesla, Inc. (NASDAQ:TSLA) misses big on first-quarter earnings

Tesla reported a wider-than-expected loss and less revenue than anticipated during the first quarter as demand for its electric cars waned after the company lost a valuable tax credit for buyers on Jan. 1.

Executives braced investors for another loss in the second quarter before returning to profitability in the second half of the year.

Here’s what Tesla reported, versus what analysts expected based on average estimates compiles by Refinitiv:

Loss per share on an adjusted basis: $2.90 versus 69 cents expected
Revenue: $4.54 billion versus $5.19 billion expected
On an unadjusted basis, Tesla lost $702.1 million, or $4.10 a share during the quarter ended March 31, compared with a loss of $709.6 million, or $4.19 a share during the same period last year.

Its shares, which closed down by about 2 percent Wednesday, were about flat after the markets closed.

The company previously warned that first-quarter income will “be negatively impacted” because of “lower than expected delivery volumes and several pricing adjustments.” That may be one reason shares remained flat after the quarterly update– investors already anticipated some disappointments.

Tesla said earlier this month it delivered 63,000 cars during the quarter, well below analysts’ consensus estimates of 76,000.

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 294.62.

The projected upper bound is: 280.88.

The projected lower bound is: 234.27.

The projected closing price is: 257.58.

Candlesticks

A black body occurred (because prices closed lower 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 26 white candles and 24 black candles for a net of 2 white 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 27.7463. This is not an overbought or oversold reading. The last signal was a sell 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 38.76. 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 155 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 -142.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 5 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 2 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -5.240 at 258.660. Volume was 25% above average (neutral) and Bollinger Bands were 41% narrower than normal.

Open High Low Close Volume___
263.850 265.320 258.000 258.660 10,727,454

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

Moving Averages: 10-period 50-period 200-period
Close: 268.17 282.54 308.75
Volatility: 36 52 73
Volume: 8,577,597 9,136,026 9,163,065

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 16.2% below its 200-period moving average and is in an downward 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 bearish on TSLA.O and have had this outlook for the last 8 periods.

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