Tesla, Inc. (NASDAQ:TSLA) polarizing Cybertruck was preordered 200,000 times within 3 days

Tesla, Inc. (NASDAQ:TSLA) polarizing Cybertruck was preordered 200,000 times within 3 days

Tesla, Inc. (NASDAQ:TSLA) polarizing Cybertruck was preordered 200,000 times within 3 days

Just days after hosting a bumpy reveal event, Tesla secured 200,000 preorders of its new electric pickup truck, CEO Elon Musk tweeted Sunday. A day earlier, the Palo Alto-based automaker hit 146,000 preorders within the truck’s first 48 hours.

In order to preorder the much-buzzed-about Cybertruck, customers had to drop a $100 refundable deposit, according to the company’s website. In the tweet, Musk seems to have conflated preorders with “orders.”

“146k Cybertruck orders so far, with 42% choosing dual, 41% tri & 17% single motor,” Musk tweeted Saturday. He later tweeted updates saying  “187k” and “200k.”

On Thursday, Musk took the stage at a showy event in Los Angeles to showcase the car’s so-called bulletproof windows. During a demonstration, the company’s design head hurled a metal ball at the armored windows.

The windows cracked – twice.

146k Cybertruck orders so far, with 42% choosing dual, 41% tri & 17% single motor— Elon Musk (@elonmusk) November 23, 2019

The polarizing, angular truck will come in three configurations with range estimates between 250 and 500 miles, depending on the model. The most affordable truck is priced at $39,900. The all-wheel-drive version with 300 miles of range costs $49,900 while the highest tier rings in at $69,900.

Musk tweeted that the dual-motor midtier version with all-wheel drive is the most popular choice, so far. The demand comes despite the futuristic truck receiving “no advertising & no paid endorsement,” Musk tweeted.

The Cybertruck appears to be less popular than some of Tesla’s other models. The automaker hasn’t revealed how many people put down money for the Model Y crossover announced this year. The Model 3 sedan, however, secured 276,000 preorders within days after it was announced in 2016. 

276k Model 3 orders by end of Sat— Elon Musk (@elonmusk) April 3, 2016

The electric truck is Tesla’s sixth vehicle model to date. Tesla’s stock plunged 6.1% following the truck’s rocky unveiling.

Motorists wishing to drive the Cybertruck will have to wait longer than a year before it arrives. Production starts on the cheaper versions in late 2021. Production is expected to begin on the $69,900 tri-motor option in late 2022. 

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 359.87.

The projected lower bound is: 301.33.

The projected closing price is: 330.60.

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 30 white candles and 20 black candles for a net of 10 white candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is 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 11.6062. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 8 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 53.51. 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 sell 2 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 -133.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 7 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 4 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -7.420 at 328.920. Volume was 2% below average (neutral) and Bollinger Bands were 5% wider than normal.

Open     High      Low     Close     Volume___
335.270 335.500 327.100 328.920 7,956,239
Technical Outlook 
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 346.25 287.61 255.73
Volatility: 46 66 59
Volume: 8,191,334 9,130,500 9,371,315

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 28.6% 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 55 periods.

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