Tesla Inc (NASDAQ:TSLA) Toyota Drops Tesla Stock

Tesla Inc (NASDAQ:TSLA) Toyota Drops Tesla Stock

Tesla Inc (NASDAQ:TSLA) Toyota Drops Tesla Stock

  • Toyota Sold All Its Tesla Stock, And Plans To Ignite 2020 Games By Flying Car
  • Toyota has seemingly surrendered its entire stake in Tesla Motors Inc., concluding the two companies’ more than half-decade relationship.
  • A Toyota spokeswoman told Bloomberg that the sale signified the end of the companies’ dealings (at least for the present), which kicked off and into high gear in 2010.
  • As Bloomberg reported, Toyota bought into Tesla’s eco-driven operation for $50 million that year, and even sold its own disused factory in California to the younger automaker.
  • On May 31 Tesla CEO Elon Musk made a statement that he was getting serious about factory safety. The statement sounded like a heartfelt appeal for everyone to improve safety at the state-of-the-art Tesla automobile factory in Fremont, California.
  • Unfortunately, the statement was issued after it was made public that Tesla’s safety rates from 2014 to 2016 were poor.
  • Although some manufacturers voluntarily release this safety information, Tesla had not done so for the 2014-2016 period.
  • Now, Tesla has voluntarily released data for the first quarter of 2017, showing an improvement in the safety record that is now better than industry average.

Tesla, Inc., formerly Tesla Motors, Inc., designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage. The Automotive segment includes the design, development, manufacturing, and sales of electric vehicles. The Energy generation and storage segment includes the design, manufacture, installation, and sale or lease of stationary energy storage products and solar energy systems to residential and commercial customers, or sale of electricity generated by its solar energy systems to customers. The Company produces and distributes two fully electric vehicles, the Model S sedan and the Model X sport utility vehicle (SUV). It also offers Model 3, a sedan designed for the mass market. It develops energy storage products for use in homes, commercial facilities and utility sites.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 294.82.

The projected upper bound is: 362.24.

The projected lower bound is: 320.86.

The projected closing price is: 341.55.

TESLA INC closed down -0.520 at 339.850. Volume was 4% below average (neutral) and Bollinger Bands were 6% wider than normal.

Open         High          Low            Close         Volume
339.770    342.880    335.930    339.850    5,590,239

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period      50-period   200-period
Close:                       323.36          306.67         241.28
Volatility:                31                  44                 39
Volume:                   6,213,756    6,250,171    4,917,140

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 40.9% above 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 2 periods.

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 88.9266. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 13 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 66.11. 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 22 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 122.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 13 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 3 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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