Tesla, Inc. (NASDAQ:TSLA) racked up one billion miles driven on Autopilot

Tesla, Inc. (NASDAQ:TSLA) racked up one billion miles driven on Autopilot

Tesla, Inc. (NASDAQ:TSLA) racked up one billion miles driven on Autopilot

Tesla has passed an impressive milestone. The carmaker’s vehicles have racked up one billion miles driven on Autopilot, the company’s semi-self-driving system, Tesla said.

That number represents 10% of all miles driven by Teslas since 2012, when the Model S sedan first appeared in the market. The company noted in a statement that Autopilot has been available only since 2015, but Tesla sold relatively few cars prior to the technology’s launch.

Tesla aims to make Autopilot a full self-driving system in coming years. The technology uses cameras, sensors, and computing power to replace the expensive laser-radar systems employed by General Motors’ Cruise division and Alphabet’s Waymo, both of which are seeking to launch ride-hailing services in 2018-19.

Overall, the bias in prices is: Upwards.

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

The projected upper bound is: 389.67.

The projected lower bound is: 308.58.

The projected closing price is: 349.13.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 64.1041. This is not an overbought or oversold reading. 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 57.77. 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 56 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 23. This is not a topping or bottoming area. 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 10 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 3.950 at 347.870. Volume was 60% below average (consolidating) and Bollinger Bands were 66% narrower than normal.

Open High Low Close Volume___
345.990 348.280 342.210 347.870 4,127,578

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

Moving Averages: 10-period 50-period 200-period
Close: 344.95 309.53 311.67
Volatility: 50 89 72
Volume: 6,195,325 9,813,834 9,119,047

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 11.6% 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 moderate flows of volume into TSLA.O (mildly bullish). Our trend forecasting oscillators are currently bullish on TSLA.O and have had this outlook for the last 24 periods.

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