Tesla, Inc. (NASDAQ:TSLA) Model 3 was the best-selling luxury car of 2018

Tesla, Inc. (NASDAQ:TSLA) Model 3 was the best-selling luxury car of 2018

Tesla, Inc. (NASDAQ:TSLA) Model 3 was the best-selling luxury car of 2018

Tesla navigated a bumpy road in 2018 — a year that saw CEO Elon Musk step down as chairman as part of an SEC settlement over fraud charges, while the electric automaker also faced criticism over working conditions and production delays.

But, the past year also had good news for Tesla. The company sold nearly as many of its vehicles in 2018 (over 245,000 of them) than it did in every previous year combined, going back to its 2003 founding, Tesla said in a press release at the start of January. Helping to drive that growth was the fact that Tesla’s Model 3 sedan became the best-selling luxury vehicle on the US market.

Last year, in total, Tesla sold 145,846 Model 3s, the company’s mid-size, four-door sedan that started production in 2017. That easily outpaced the 111,641 units sold by the Model 3′s closest luxury vehicle competitor, the Lexus RX.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 371.28.

The projected lower bound is: 301.30.

The projected closing price is: 336.29.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 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 73.5743. This is not an overbought or oversold reading. The last signal was a sell 4 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 51.23. 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 82 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 86. This is not a topping or bottoming area. The last signal was a buy 8 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 0 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 0.390 at 335.350. Volume was 23% below average (neutral) and Bollinger Bands were 22% wider than normal.

Open High Low Close Volume___
341.960 344.010 327.020 335.350 7,008,516

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

Moving Averages: 10-period 50-period 200-period
Close: 320.28 340.38 312.63
Volatility: 108 69 75
Volume: 7,911,721 7,991,026 9,383,120

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 7.3% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 14 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.

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