Tesla (NASDAQ:TSLA) Falls Ahead of ‘Battery Day’

Tesla (NASDAQ:TSLA) Falls Ahead of ‘Battery Day’

$TSLA #Tesla #Auto #Manufacturers #USA #Nasdaq #Stocks #Trading

Tesla
Ticker: NASDAQ:TSLA
Price: $449.39

Tesla News

Tesla was falling 2,65% in premarket trading Tuesday to $437.50 after CEO Elon Musk tweeted the electric vehicle maker plans to boost battery cell purchases from suppliers and foresees “significant shortages in 2022 & beyond unless we also take action ourselves.”

The tweets came a day before Tesla’s widely anticipated “Battery Day” event Tuesday at which the company is expected to reveal new battery cell technology that significantly boost boost battery life.

In his tweets, Musk said that notwithstanding the announcement, Tesla intends to increase purchases of battery cells from third-party suppliers. The announcement pertains more to long-term production, particularly for semi, cybertruck and roadster vehicles and won’t reach high-volume production until 2022, Musk tweeted.

Business Summary

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.

Price Performance

Relative Valuation

Technical Indicators

Overall, the bias in prices is: Upwards.

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

The projected upper bound is: 521.42.

The projected lower bound is: 382.98.

The projected closing price is: 452.20.

Candlesticks

A black body occurred (because prices closed lower 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 22 white candles and 28 black candles for a net of 6 black candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

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 71.0757. This is not an overbought or oversold reading. The last signal was a sell 2 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 59.43. 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 12 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 49. This is not a topping or bottoming area. The last signal was a buy 7 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 7.240 at 449.390. Volume was 100% below average (consolidating) and Bollinger Bands were 51% wider than normal.

Open     High      Low      Close      Volume
453.130  455.680   407.070  449.390    211,836
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period      200-period
Close:           406.67        358.43         195.60
Volatility:      181           118            113
Volume:          75,684,296    79,450,592     83,021,864

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 129.7% above its 200-period moving average and is in an upward 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 bullish on TSLA.O and have had this outlook for the last 25 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.