Tesla, Inc. (NASDAQ:TSLA) will shift priority to ‘service and parts’

Tesla, Inc. (NASDAQ:TSLA) will shift priority to ‘service and parts’

Tesla, Inc. (NASDAQ:TSLA) will shift priority to ‘service and parts’

Tesla CEO Elon Musk recently said that the automaker’s customer service response time and delivery logistics are their new top priorities with the increased delivery volume.

Now Musk says that once they figure that out, Tesla will shift priority to ‘service and parts’ as the automaker starts rolling out its own in-house body shops.

Tesla placed the fault on its third-party body shops and the body shops are saying that it’s Tesla’s fault because of delays of parts.

In a series of tweets today, Musk again blamed the third-party body shops that Tesla approved for repairs on its vehicles.

The CEO said that Tesla is bringing “most collision repairs in-house” because “outside firms” (Tesla’s approved body shops) are driving people “crazy”.

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 309.59.

The projected upper bound is: 332.29.

The projected lower bound is: 257.55.

The projected closing price is: 294.92.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 91.1947. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 4 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 46.04. 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 4 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 5. This is not a topping or bottoming area. The last signal was a buy 4 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 0 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 5.740 at 295.200. Volume was 29% below average (neutral) and Bollinger Bands were 8% narrower than normal.

Open High Low Close Volume___
288.760 297.326 286.520 295.200 6,765,612

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

Moving Averages: 10-period 50-period 200-period
Close: 285.57 315.37 317.16
Volatility: 76 74 60
Volume: 9,799,398 9,876,350 8,077,093

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 6.9% below its 200-period moving average and is in an downward trend. Volatility is high 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 12 periods.

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