Tesla, Inc. (NASDAQ:TSLA) sold nearly 3 times as many cars as rivals
Tesla Inc. likely sold nearly three times as many electric vehicles in May than its main competitors combined did.
That’s from analysts at Morgan Stanley, led by Adam Jonas, who used industry estimates as Tesla TSLA, +1.54% does not report monthly sales.
The Silicon Valley car maker is estimated to have sold 11,300 vehicles in the U.S. in May, 2.6 times as many as the combined sales of electric vehicles by Volkswagen AG’s VW, +1.56% Audi brand, BMW AG BMW, -0.65% General Motors Co. GM, +0.31% and Nissan Motor Co. Ltd 7201, -1.27% the analysts said.
Last year, Tesla’s total sales were 2.1 times that cohort, they said.
Tesla for years has reported deliveries, its proxy for sales, by quarter only a few days after the end of the three-month period. GM and Ford have taken a page from Tesla and recently started divulging sales by quarter as well.
In April, Ford reported its first-quarter sales rose 4.1%, while GM reported a 7% decline in sales for the quarter. Tesla also in April reported fewer-than-expected deliveries in the first quarter, pinning the miss on backlogs.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 232.78.
The projected upper bound is: 217.45.
The projected lower bound is: 173.17.
The projected closing price is: 195.31.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 64.4108. This is not an overbought or oversold reading. The last signal was a buy 1 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 37.61. 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 1 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 -0. This is not a topping or bottoming area. The last signal was a buy 1 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 0 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 2.990 at 196.590. Volume was 31% above average (neutral) and Bollinger Bands were 57% wider than normal.
Open High Low Close Volume___
198.680 201.278 191.849 196.590 13,510,756
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 189.99 242.07 293.26
Volatility: 68 59 71
Volume: 14,036,634 11,652,699 9,693,235
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.
TESLA INC is currently 33.0% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of TSLA.O (mildly bearish). Our trend forecasting oscillators are currently bearish on TSLA.O and have had this outlook for the last 37 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.
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