Tesla, Inc. (NASDAQ:TSLA) stock fell into decline on Tuesday after Chinese hackers exposed a shocking vulnerability in the Model S.
China hackers set their sights on Tesla to expose just how easy it was to manipulate the Model S. Not only were they able to trick the autopilot systems of the luxury vehicles, but they’ve been able to access them remotely.
Tencent subsidiary Keen Labs released its findings in a whitepaper called “Experimental Security Research of Tesla Autopilot.” This was the second report in about three years from the highly-regarded research group, which continues to warn that Tesla’s self-driving features leave customers vulnerable.
The widely-regarded Keen Labs started honing in on alleged self-driving issues at Tesla in 2016.
At that time, researchers had conducted several months of in-depth research on Tesla vehicles. In a note, it stated it had discovered “multiple security vulnerabilities. Furthermore, it had:
“successfully implemented remote, aka none physical contact, control on Tesla Model S in both parking and driving modes.”
Overall, the bias in prices is: Downwards.
The projected upper bound is: 307.64.
The projected lower bound is: 263.46.
The projected closing price is: 285.55.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white 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 94.3669. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 8 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 51.56. 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 140 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 110.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 5 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 3 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed down -3.300 at 285.880. Volume was 32% below average (neutral) and Bollinger Bands were 39% narrower than normal.
Open High Low Close Volume___
288.300 289.440 283.880 285.880 5,478,940
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 274.87 292.79 313.95
Volatility: 40 48 74
Volume: 7,430,089 8,613,298 9,215,630
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 8.9% below its 200-period moving average and is in an downward 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 volume flowing into and out of TSLA.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on TSLA.O and have had this outlook for the last 29 periods.