Tesla, Inc. (NASDAQ:TSLA) New vehicle will share most of its parts with Model 3

Tesla, Inc. (NASDAQ:TSLA) New vehicle will share most of its parts with Model 3

Tesla, Inc. (NASDAQ:TSLA) New vehicle will share most of its parts with Model 3

Tesla Inc. will unveil its new Model Y electric crossover SUV on March 14.

“Model Y unveil event on March 14 at LA Design Studio,” Chief Executive Elon Musk tweeted Sunday.

Elon Musk✔@elonmusk · 7h

Model Y unveil event on March 14 at LA Design Studio

Elon Musk✔@elonmusk

Model Y, being an SUV, is about 10% bigger than Model 3, so will cost about 10% more & have slightly less range for same battery20.5K8:41 AM – Mar 4, 2019Twitter Ads info and privacy2,011 people are talking about this

In subsequent tweets, Musk said: “Model Y, being an SUV, is about 10% bigger than Model 3, so will cost about 10% more & have slightly less range for same battery,” and added that “Detailed specs & pricing will be provided, as well as test rides in Y.”

Last month, Tesla TSLA, -7.84%   said the Model Y will share about 75% of its components with the Model 3, and it expects Model Y production to scale up “significantly faster” than the Model 3. Tesla said that will help keep the Model Y’s price lower compared to rival SUVs.

Tesla did not immediately comment Sunday when asked for more details about the Model Y.

Last week, Tesla announced its long-promised $35,000 Model 3 sedan, and said it was shifting all its sales to online-only, likely leading to a number of retail layoffs. Musk said the company was likely to post a loss for the quarter, but could return to slight profitability in the second quarter.

Tesla shares are down more than 11% this year, and down about 12% over the past 12 months, compared to the S&P 500’s SPX, +0.69%   gains of nearly 12% and 4.1%, respectively, over those spans.

Overall, the bias in prices is: Downwards.

By the way, prices are vulnerable to a correction towards 315.79.

The projected upper bound is: 330.90.

The projected lower bound is: 256.54.

The projected closing price is: 293.72.

Candlesticks

A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
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 28 white candles and 22 black candles for a net of 6 white candles.

An evening star occurred (this is a three-candle pattern). This is a bearish pattern than often signifies a major top.

A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend. There have been 5 falling windows in the last 50 candles–this makes the current falling window even more 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 70.1227. This is not an overbought or oversold reading. The last signal was a sell 0 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 43.02. 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 118 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 -73. This is not a topping or bottoming area. The last signal was a sell 0 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 2 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -25.090 at 294.790. Volume was 179% above average (trending) and Bollinger Bands were 54% narrower than normal.

Open High Low Close Volume___
306.940 307.130 291.900 294.790 22,911,376

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

Moving Averages: 10-period 50-period 200-period
Close: 302.81 314.79 316.37
Volatility: 66 75 75
Volume: 8,969,024 7,962,493 9,151,390

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 gapped down today (bearish) on heavy volume. Possibility of a Breakaway Gap which usually signifies the beginning of a major market move. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
TESLA INC is currently 6.8% below 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 7 periods.

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