Tesla, Inc. (NASDAQ:TSLA) will stop selling the lowest-priced versions of its Model S sedans and Model X SUVs

Tesla, Inc. (NASDAQ:TSLA) will stop selling the lowest-priced versions of its Model S sedans and Model X SUVs

Tesla, Inc. (NASDAQ:TSLA) will stop selling the lowest-priced versions of its Model S sedans and Model X SUVs

Tesla will stop selling the lowest-priced versions of its Model S sedans and Model X SUVs from Monday, the automaker’s CEO Elon Musk wrote in a tweet late on Wednesday.

The Model S and X are Tesla’s second and third major lines of electric vehicles, and are higher-priced lines compared to its newest Model 3. The 75 kWh version of the Model S and X that are being retired come with a battery that garners a range of 259 miles for the Model S, and a 237 miles for the Model X.

Higher-end versions of the S and X, equipped with a 100 kWh battery, will still be made and sold by Tesla, but at a higher price. The starting price for a new Model S will be $94,000 and the starting price for a Model X will be $97,000 from next week, according to Musk’s tweet-announcement.

Tesla did not respond to inquires as to why the S and X offerings were pared back, or whether any team reviewed Musk’s tweet before he shared it.

Retiring the lower-range Model S and X vehicles may push prospective customers to buy Tesla’s high-end Model 3 sedans instead.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 372.28.

The projected lower bound is: 305.73.

The projected closing price is: 339.00.

Candlesticks

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 30 white candles and 20 black candles for a net of 10 white candles.

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 86.3868. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 5 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 52.28. 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 83 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 104.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 9 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 1 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 3.180 at 338.530. Volume was 40% below average (neutral) and Bollinger Bands were 16% wider than normal.

Open High Low Close Volume___
335.500 343.503 331.470 338.530 5,432,945

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

Moving Averages: 10-period 50-period 200-period
Close: 324.59 340.85 312.82
Volatility: 93 65 75
Volume: 7,899,024 7,682,870 9,377,010

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 8.2% above 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 15 periods.

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