Tesla, Inc. (NASDAQ:TSLA) Musk says electric car maker had more than 50,000 net new orders in the current quarter

Tesla, Inc. (NASDAQ:TSLA) Musk says electric car maker had more than 50,000 net new orders in the current quarter

Tesla, Inc. (NASDAQ:TSLA) Musk says electric car maker had more than 50,000 net new orders in the current quarter

Tesla Inc. stock on Thursday rose for the first time in six sessions, boosted by a leaked email from Chief Executive Elon Musk promising record-breaking sales for the company.

Tesla TSLA, +1.43% shares were up 2%, hovering around the psychologically important $200 mark.

Earlier Thursday, Electrek, an online publication mostly focused on the Silicon Valley car maker, reported that Musk had sent an email to employees late Wednesday, saying that Tesla could beat a previous delivery record and had more than 50,000 net new orders for this quarter.

“Based on current trends, we have a good chance of exceeding the record 90,700 deliveries of Q4 last year and making this the highest deliveries/sales quarter in Tesla history!” Musk reportedly wrote in the email.

Tesla did not immediately return a request for comment about the new Musk email.

Tesla last month reported first-quarter deliveries that missed Wall Street expectations, adding to the worries about the company’s short term. Fourth-quarter deliveries, while also missing forecasts, were a high-water mark for the car maker.

Tesla’s “management’s recent comments about its cash burn raises the question of why Tesla didn’t issue more equity,” he said.

The shares have lost 30% in the past 12 months and 42% so far this year. That contrasts with gains of about 3% and 13% for the S&P 500 index SPX, -1.19%  in the same period.

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 255.67.

The projected upper bound is: 215.76.

The projected lower bound is: 171.48.

The projected closing price is: 193.62.

Candlesticks

A white body occurred (because prices closed higher 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 24 white candles and 26 black candles for a net of 2 black 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 17.8333. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 2 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 24.88. This is where it usually bottoms. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 18 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 -125.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 15 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 8 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 2.760 at 195.490. Volume was 161% above average (trending) and Bollinger Bands were 40% wider than normal.

Open High Low Close Volume___
194.340 199.465 186.220 195.490 26,547,142

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

Moving Averages: 10-period 50-period 200-period
Close: 216.88 255.34 299.88
Volatility: 61 56 72
Volume: 14,142,389 11,265,750 9,801,557

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 34.8% below its 200-period moving average and is in an downward trend. Volatility is 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 29 periods. Our momentum oscillator is currently indicating that TSLA.O is currently in an oversold condition.

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