Tesla, Inc. (NASDAQ:TSLA) to reduce the number of vehicles sitting at its California factory

Tesla, Inc. (NASDAQ:TSLA) to reduce the number of vehicles sitting at its California factory

Tesla, Inc. (NASDAQ:TSLA) to reduce the number of vehicles sitting at its California factory

Tesla will make a change to its delivery system next quarter designed to reduce the number of vehicles sitting at its Fremont, California, factory, Electrek‘s Fred Lambert reported.

According to Electrek, Tesla will immediately send custom-ordered vehicles to local delivery hubs, instead of keeping them at the Fremont factory until the customer schedules a delivery date.

Tesla CEO Elon Musk reportedly compared the electric-car maker to Amazon on a call with employees last week, suggesting the online retailer would not survive if it used a delivery system similar to the one Tesla uses for custom-ordered vehicles.

“Amazon would go bankrupt if they would have to wait for customers to be ready to take delivery before shipping,” Musk said on the call, according to Electrek’s report.

Improving delivery logistics has been an area of emphasis for Tesla this year. The company cited the difficulties of beginning international deliveries of its Model 3 sedan as a challenge it faced during the first quarter, but Musk said Tesla made rapid improvements to its international delivery system after it set a record for vehicle deliveries during the second quarter.

Technical Indicators

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 235.56.

The projected upper bound is: 265.06.

The projected lower bound is: 220.94.

The projected closing price is: 243.00.

Candlesticks

A black body occurred (because prices closed lower 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 27 white candles and 23 black candles for a net of 4 white candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

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 65.6294. This is not an overbought or oversold reading. The last signal was a sell 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 60.03. 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 36 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 10 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -2.390 at 242.810. Volume was 48% below average (neutral) and Bollinger Bands were 14% narrower than normal.

Open     High      Low     Close     Volume___
246.000 247.430 241.170 242.810 4,728,096
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 235.10 234.32 266.45
Volatility: 41 59 61
Volume: 6,107,355 7,115,696 9,000,845

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 8.9% below 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 4 periods.

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