Tesla, Inc. (NASDAQ:TSLA) set to move past its drama phase?

Tesla, Inc. (NASDAQ:TSLA) set to move past its drama phase?

Tesla, Inc. (NASDAQ:TSLA) set to move past its drama phase?

At times—like, say, this week—that seems hard to believe. After a news-filled appearance on 60 Minutes, for example, Elon Musk said portions of the interview were uncharitably edited. Other portions were, at the least, eyebrow raising. The television interview followed another in which he said the company had a near-death experience not long ago.

But the stock is up roughly 18% in 2018 as the S&P 500 has stumbled, and some analysts think its business—particularly after a strong third quarter—is now poised to take center stage.

“Tesla is enjoying improving fundamentals based on increasingly efficient manufacturing, strong average selling prices leading to better-than-expected cash flow, as well as slow and disappointing competition entering the market,” Oppenheimer analyst Colin Rusch wrote Wednesday. “As Tesla delivers steady cash flow, a new group of investors will begin taking positions, helping drive shares higher.”

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 327.29.

The projected upper bound is: 398.38.

The projected lower bound is: 337.06.

The projected closing price is: 367.72.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 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 53.6373. This is not an overbought or oversold reading. The last signal was a sell 5 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 63.10. 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 65 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 98. This is not a topping or bottoming area. The last signal was a sell 0 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 4 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -0.160 at 366.600. Volume was 50% below average (consolidating)(neutral) and Bollinger Bands were 47% narrower than normal.

Open High Low Close Volume___
369.420 371.910 365.160 366.600 5,027,048

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

Moving Averages: 10-period 50-period 200-period
Close: 357.72 320.33 312.49
Volatility: 27 66 72
Volume: 6,690,861 9,033,472 9,209,653

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 17.3% 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 33 periods.

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