Tesla, Inc. (NASDAQ:TSLA) reached a daily production rate of 1,000 Model 3 cars per day

Tesla, Inc. (NASDAQ:TSLA) reached a daily production rate of 1,000 Model 3 cars per day

Tesla, Inc. (NASDAQ:TSLA) reached a daily production rate of 1,000 Model 3 cars per day

Tesla has achieved a Model 3 production rate of 1,000 cars per day, according to electric vehicle blog Electrek.

Producing cars at a rate of 1,000 per day would give a weekly production rate of 7,000 cars, assuming the factory is running everyday.

Tesla now wants to maintain that rate and begin reducing the costs of making the Model 3, so the company can profitably produce the car at the originally planned and long-awaited price of $35,000, the report said.

All the versions Tesla has been offering since it began delivering the first Model 3s in July 2017 have higher prices. Musk has said the company needs to sell premium versions of the car in the short term, or Tesla will “die.”

Overall, the bias in prices is: Upwards.

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

The projected upper bound is: 391.98.

The projected lower bound is: 311.07.

The projected closing price is: 351.52.

Candlesticks

A white body occurred (because prices closed higher than they opened).
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 29 white candles and 21 black candles for a net of 8 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 82.7392. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 4 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 58.07. 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 58 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 52. This is not a topping or bottoming area. The last signal was a buy 4 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 12 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 9.310 at 350.480. Volume was 45% below average (neutral) and Bollinger Bands were 65% narrower than normal.

Open High Low Close Volume___
341.830 351.600 338.265 350.480 5,628,895

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

Moving Averages: 10-period 50-period 200-period
Close: 344.87 311.42 311.85
Volatility: 53 88 72
Volume: 6,099,686 9,675,139 9,113,277

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 12.4% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. 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 26 periods.

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