Tesla, Inc. (NASDAQ:TSLA) Turns out there’s more ways to use Autopilot than we imagined

Tesla, Inc. (NASDAQ:TSLA) Turns out there’s more ways to use Autopilot than we imagined

Tesla, Inc. (NASDAQ:TSLA) Turns out there’s more ways to use Autopilot than we imagined

Elon Musk, who’s had federal regulators scrutinising his Twitter feed and Tesla’s Autopilot technology, invited fresh attention to both by making light of a pornographic video filmed inside one of the company’s cars.

The chief executive officer sent a series of tweets loaded with double entendre on Thursday after a video surfaced last week of two people having sex in a Tesla operating on Autopilot.

“Turns out there’s more ways to use Autopilot than we imagined,” Musk wrote in his initial post. His followers replied with jokes of their own.

Musk, 47, is just two weeks removed from reaching an accord with the US Securities and Exchange Commission, which sued him for fraud over posts last year about trying to take Tesla private.

The National Highway Traffic Safety Administration and National Transportation Safety Board also investigated several crashes last year involving Autopilot, including one in which an Apple engineer died in his Model X that steered into a concrete barrier. The driver’s family sued Tesla last week.

Tesla shares have dropped 27 per cent this year. The stock pared declines last week as Musk hyped autonomous-driving technology as “transformative” to Tesla while ginning up interest in the company’s $US2.7 billion ($3.9 billion) offerings of new equity and convertible bonds.

Overall, the bias in prices is: Downwards.

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

By the way, prices are vulnerable to a correction towards 280.30.

The projected upper bound is: 261.41.

The projected lower bound is: 214.41.

The projected closing price is: 237.91.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 black candles.

A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.

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 24.3242. This is not an overbought or oversold reading. The last signal was a sell 3 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 38.16. 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 9 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 -68. This is not a topping or bottoming area. The last signal was a buy 6 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 4 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -2.460 at 239.520. Volume was 25% below average (neutral) and Bollinger Bands were 6% narrower than normal.

Open High Low Close Volume___
239.750 241.990 236.020 239.520 7,008,336

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 244.20 267.89 304.44
Volatility: 48 54 74
Volume: 11,961,108 10,759,672 9,553,901

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 21.3% below its 200-period moving average and is in an downward trend. Volatility is low 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 20 periods.

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