Tesla (NASDAQ:TSLA) Positive As The Third Quarter Of 2020 Comes To An End

Tesla (NASDAQ:TSLA) Positive As The Third Quarter Of 2020 Comes To An End

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

Tesla
Ticker: NASDAQ:TSLA
Price: $419.07

Tesla News

Tesla CEO Elon Musk has posted a positive update as the third quarter of 2020 comes to an end. Tesla is currently executing its notorious “end-of-quarter” push, which has been a heavily documented episode where the electric automaker attempts to increase production and delivery rates before figures are released by the company ahead of the earnings call.

Musk Tweeted, “Thanks Tesla Team for great work on deliveries! For new owners, we super appreciate accommodating us on delivery timing! Definitely one of our toughest quarters in global logistics.”

In addition to Musk’s Tweet, owners and enthusiasts of the electric car company have reached out to the Tesla CEO, indicating that they are also available to help if they are needed.

In the past, Tesla has used the final two weeks to push hard for an extra cushion when it has to report its delivery figures. Not only do Tesla employees ramp their work rates, but owners and enthusiasts have also lent helping hands to increase the efficiency of Tesla’s quarter-end push.

Q3 2020 is no different. While Musk continues to push the limits of production during this quarter, the supporters of the electric automaker are ready to help at local showrooms. In the U.S. and China, Tesla has used real-world owners to explain the finer points and advantages of owning one of the company’s cars to prospective owners.

Tesla will need around 160,000 deliveries in Q3 to have a shot at achieving the 500,000 unit goal for the year.

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: 493.14.

The projected lower bound is: 348.62.

The projected closing price is: 420.88.

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 22 white candles and 28 black candles for a net of 6 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 72.2691. This is not an overbought or oversold reading. The last signal was a sell 8 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 53.39. 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 18 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 19. This is not a topping or bottoming area. The last signal was a buy 13 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 4 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -2.130 at 419.070. Volume was 100% below average (consolidating) and Bollinger Bands were 25% wider than normal.

Open      High      Low      Close       Volume
416.000   428.500   411.600  419.070     104,305
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bearish
Long Term:         Bullish
Moving Averages: 10-period      50-period      200-period
Close:           419.67         370.41         205.74
Volatility:      91             121            115
Volume:          73,345,792     77,448,512     84,411,144

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 103.7% 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 1 periods.

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