Tesla, Inc. (NASDAQ:TSLA) shareholders and analysts are gearing up for the electric automaker’s second-quarter delivery figures

Tesla, Inc. (NASDAQ:TSLA) shareholders and analysts are gearing up for the electric automaker’s second-quarter delivery figures

Tesla, Inc. (NASDAQ:TSLA) shareholders and analysts are gearing up for the electric automaker’s second-quarter delivery figures

Tesla may release second-quarter delivery figures in the coming week that sate Wall Street’s expectations. But the automaker’s future profitability and questionable underlying demand remain fundamental wildcards.

That’s what a cadre of equity analysts at investment giants from Goldman Sachs to Barclays have conveyed to investors in recent days as Tesla is expected to release quarterly delivery figures in early July. 

“While we believe 2Q19 should be fine — and the company likely achieves volumes near FactSet consensus — we do believe 2H19 (and beyond) volume estimates look high considering there are fewer levers to pull to stoke demand going forward,” the Goldman analyst David Tamberrino, who rates Tesla a “sell,” wrote in a note June 20 note.

Tesla CEO Elon Musk, as well as bullish equity analysts covering the stock, have sought to put concerns over underlying demand to rest.

In an email to employees last Tuesday, Musk said Tesla was close to setting a record for the number of vehicles delivered in one quarter, 

“I think we expect demand to — we are seeing demand returning to normal in Q2,” Musk said on the company’s April earnings call in response to an analyst’s question. “And it might be a little better than normal. It’s — I don’t have a crystal ball, so it’s hard for me to say, but my impression right now is that demand is quite solid, quite strong, yes.”

Overall, the bias in prices is: Downwards.

The projected upper bound is: 242.38.

The projected lower bound is: 202.62.

The projected closing price is: 222.50.

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 23 white candles and 27 black candles for a net of 4 black 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 51.6497. This is not an overbought or oversold reading. The last signal was a sell 12 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 55.15. 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 18 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 56. This is not a topping or bottoming area. The last signal was a sell 7 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 17 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 0.620 at 223.460. Volume was 38% below average (neutral) and Bollinger Bands were 6% narrower than normal.

Open High Low Close Volume___
220.990 225.170 220.800 223.460 6,851,384

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

Moving Averages: 10-period     50-period     200-period
Close: 222.66 222.59 286.19
Volatility: 37 58 69
Volume: 8,530,441 12,153,068 9,693,704

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 21.9% below 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 volume flowing into and out of TSLA.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on TSLA.O and have had this outlook for the last 11 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH