Tesla, Inc. (NASDAQ:TSLA) Stock Sinks As Market Gains
In the latest trading session, Tesla (TSLA) closed at $227.45, marking a -0.93% move from the previous day. This change lagged the S&P 500’s daily gain of 0.09%. At the same time, the Dow added 0.26%, and the tech-heavy Nasdaq lost 0.17%.
Prior to today’s trading, shares of the electric car maker had lost 3.66% over the past month. This has lagged the Auto-Tires-Trucks sector’s gain of 2.65% and the S&P 500’s gain of 4.92% in that time.
Wall Street will be looking for positivity from TSLA as it approaches its next earnings report date. On that day, TSLA is projected to report earnings of -$0.14 per share, which would represent a year-over-year decline of 104.83%.
Overall, the bias in prices is: Downwards.
By the way, prices are vulnerable to a correction towards 233.62.
The projected upper bound is: 249.55.
The projected lower bound is: 205.67.
The projected closing price is: 227.61.
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 26 white candles and 24 black candles for a net of 2 white candles.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
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 58.9792. This is not an overbought or oversold reading. The last signal was a buy 6 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 51.37. 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 sell 30 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 88. This is not a topping or bottoming area. The last signal was a buy 7 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 4 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed down -2.130 at 227.450. Volume was 56% below average (consolidating) and Bollinger Bands were 49% narrower than normal.
Open High Low Close Volume___
227.200 229.640 225.170 227.450 4,189,372
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 220.61 232.67 269.48
Volatility: 46 59 61
Volume: 5,950,629 7,387,763 9,013,854
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 15.6% below its 200-period moving average and is in an downward trend. Volatility is relatively normal 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 bearish on TSLA.O and have had this outlook for the last 27 periods.
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