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Tesla (NASDAQ:TSLA) Insurance Will Make Billions

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

Tesla
Ticker: NASDAQ:TSLA
Price: $423.90

Tesla Outlook

If a recent valuation of the Tesla car insurance offshoot of the electric vehicle company is to be believed, it could eventually become one of the largest auto insurers in the United States.

Musk discussed the Tesla car insurance unit in terms of comprising a substantial portion of the company’s auto business.

“Obviously, insurance is substantial. So, insurance could very well be, I don’t know, 30%, 40% of the value of the car business, frankly,” said Musk.

Though thirty percent may not seem as though it is a substantial figure, a recent CleanTechnica report attempted to shed clearer light on this amount. Its tallies indicate that Tesla’s value was greater than just about every S&P 500 company as of July 2020. The clean technology news source underscored that the electric vehicle company’s market cap is currently $391.95 billion.

Therefore, if the Tesla Insurance unit is worth about 30 percent of the company’s present market cap – the lower end of the range cited by Musk – it would easy step into the top spot, pushing State Farm – the current insurer in the lead of the auto policy market – into second place. State farm’s market cap is currently $42 billion.

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.

The projected upper bound is: 494.92.

The projected lower bound is: 353.72.

The projected closing price is: 424.32.

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 26 white candles and 24 black candles for a net of 2 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 49.6038. This is not an overbought or oversold reading. The last signal was a buy 1 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 51.76. 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 43 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 -13. This is not a topping or bottoming area. The last signal was a buy 0 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 sell 10 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 23.390 at 423.900. Volume was 50% below average (consolidating) and Bollinger Bands were 45% narrower than normal.

Open    High    Low     Close    Volume
409.730 427.770 406.690 423.900  34,351,716
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bearish
Long Term:         Bullish
Moving Averages: 10-period    50-period      200-period
Close:           414.33       422.61         247.74
Volatility:      60           111            115
Volume:          31,107,350   61,919,408     79,393,952

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 71.1% above its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods.

Our volume indicators reflect moderate flows of volume into TSLA.O (mildly bullish). Our trend forecasting oscillators are currently bearish on TSLA.O and have had this outlook for the last 2 periods.

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