Tesla (NASDAQ:TSLA) Outperforming Stock Markets

Tesla (NASDAQ:TSLA) Outperforming Stock Markets

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

Tesla
Ticker: NASDAQ:TSLA
Price: $419.62

Tesla News

Shares of Tesla surged as much as 11% on Monday amid a bounce in the overall stock market and a Goldman Sachs report that highlighted growth in Tesla app downloads.

Goldman said on Monday, citing data from Sensor Tower, that global Tesla app downloads “have recently been tracking up on a yoy basis.”

The most recent full week of global data shows Tesla app downloads are up about 20% year-over-year. 

The firm did note that some of the growth can be attributed to Tesla typically having much stronger deliveries in the last month of the quarter.

The growth in Tesla app downloads year-to-date is primarily being driven by customers in the US and China, while year-over-year growth in downloads is being driven by customers in China. 

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: 492.51.

The projected lower bound is: 353.85.

The projected closing price is: 423.18.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 21 white candles and 29 black candles for a net of 8 black 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 59.9807. 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 56.75. 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 7 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 -20. This is not a topping or bottoming area. The last signal was a buy 2 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 5 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 46.900 at 419.620. Volume was 100% below average (consolidating) and Bollinger Bands were 66% wider than normal.

Open     High     Low     Close       Volume
380.950  420.000  373.300 419.620     297,687
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period      200-period
Close:           410.62        342.56         186.24
Volatility:      201           122            113
Volume:          84,346,512    80,473,880     81,598,552

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 125.3% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term.

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 20 periods.

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