Tesla, Inc. (NASDAQ:TSLA) prices continue to bounce up and down; hike will take effect midnight April 1

Tesla, Inc. (NASDAQ:TSLA) prices continue to bounce up and down; hike will take effect midnight April 1

Tesla, Inc. (NASDAQ:TSLA) prices continue to bounce up and down; hike will take effect midnight April 1

Prices on all Tesla Inc. inventory cars will rise by about 3% on April 1, Chief Executive Elon Musk said Sunday.

In a series of tweets, Musk said the price hike will take effect at midnight, April 1 — “so effective April 2.” The first quarter ends March 31.

Inventory cars are those that have already been produced — with both new and used vehicles for sale — so they are not as customizable as Tesla’s online orders.

Prices on Tesla vehicles have bounced up and down in recent months, irritating some owners and prospective customers. In announcing 3% price hikes on most of its vehicles earlier this month, following price cuts just weeks before, Musk said prices would “revert to normal” and said “In retrospect, lower prices shouldn’t have been offered” in the first place.

Last week, Musk reportedly asked all Tesla employees to help deliver new cars to customers in an end-of-the-quarter crush.

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 306.61.

The projected upper bound is: 292.20.

The projected lower bound is: 233.90.

The projected closing price is: 263.05.

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 32.5975. This is not an overbought or oversold reading. The last signal was a buy 1 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 36.09. 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 133 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 -123.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 2 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 -9.490 at 264.530. Volume was 10% above average (neutral) and Bollinger Bands were 7% narrower than normal.

Open High Low Close Volume___
272.580 272.800 264.000 264.530 8,745,609

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

Moving Averages: 10-period 50-period 200-period
Close: 277.77 301.39 315.92
Volatility: 47 60 75
Volume: 8,731,266 8,657,669 9,438,628

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 16.3% 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 22 periods. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.

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