Tesla, Inc. (NASDAQ:TSLA) Robyn Denholm newly appointed chairwoman

Tesla, Inc. (NASDAQ:TSLA) Robyn Denholm newly appointed chairwoman

Tesla, Inc. (NASDAQ:TSLA) Robyn Denholm newly appointed chairwoman

Tesla shares rose after Macquarie estimated the electric automaker may qualify to join the benchmark S&P 500 index as early as the second quarter of 2019.

“TSLA checks off all the boxes for inclusion except aggregate GAAP profitability over trailing 12 months; we forecast this box to be checked in 2Q19,” Macquarie analyst Maynard Um said in a note Thursday.

The company’s third quarter saw it report a surprise profit, as CEO Elon Musk made good on his promise to start turning regular profits in the last half of the year.

More than $3 trillion in funds are tracking the S&P 500 directly via index funds, according to Standard & Poor’s website.

Tesla shares closed Thursday trading up 0.9 percent following the note.

Overall, the bias in prices is: Upwards.

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

By the way, prices are vulnerable to a correction towards 315.32.

The projected upper bound is: 393.23.

The projected lower bound is: 311.43.

The projected closing price is: 352.33.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 9 white candles and 1 black candles for a net of 8 white candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

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 74.7205. This is not an overbought or oversold reading. The last signal was a sell 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 68.04. 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 43 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 87. This is not a topping or bottoming area. The last signal was a sell 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 buy 16 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 3.240 at 351.400. Volume was 33% below average (neutral) and Bollinger Bands were 79% wider than normal.

Open High Low Close Volume___
348.500 357.576 348.440 351.400 7,090,674

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

Moving Averages: 10-period 50-period 200-period
Close: 340.57 294.90 311.14
Volatility: 35 92 72
Volume: 10,352,984 10,797,905 9,115,231

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 12.9% 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 very strong flows of volume into TSLA.O (bullish). Our trend forecasting oscillators are currently bullish on TSLA.O and have had this outlook for the last 11 periods.

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