Tesla (NASDAQ:TSLA) Stock Dominates Market

Tesla (NASDAQ:TSLA) Stock Dominates Market

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

Tesla
Ticker: NASDAQ:TSLA
Price: $461.30

Tesla Outlook

Shares of Tesla Inc. TSLA, +3.28% dropped 3.1% in premarket trading Thursday, putting them on track to snap a 6-day win streak, even as Baird analyst Ben Kallo boosted his price target by 25%.

Kallo reiterated the neutral rating he’s had on the electric vehicle leader since January, but raised his price target to $450 from $360, citing potential upside for gross margin and credit revenue. He also indicated the stock’s recent rally can lead the company to focus on growth over cost controls.

Kallo said regulatory credits can be a “significant swing factor” for Tesla, and he believes the company’s guidance for credit revenue to roughly double in 2020 could be conservative. “With share prices at current levels, we think [Tesla] may no longer be incentivized to maintain strict cost controls (particularly on the OpEx line) and could reprioritize investment in growth,” Kallo wrote in a note to clients.

The stock has run up 11.4% amid the 6-day win streak, and has rocketed 451.4% year to date while the S&P 500 SPX, -0.66% has gained 8.0%. “We have experienced increased inbound interest in TSLA, particularly deciphering the bull/bear case from here,” Kallo wrote. “Interestingly, we have found investors increasingly focused on 2025+ blue-sky scenarios, in stark contrast to a few months ago when the primary focus was on the upcoming quarter.”

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: 536.88.

The projected lower bound is: 392.28.

The projected closing price is: 464.58.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 88.7776. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 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 60.54. 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 29 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 180.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 24 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 14.650 at 461.300. Volume was 100% below average (consolidating) and Bollinger Bands were 35% narrower than normal.

Open     High     Low     Close     Volume
449.780  465.900  447.350 461.300   215,395
Technical Outlook
Short Term:        Overbought
Intermediate Term: Bearish
Long Term:         Bullish
Moving Averages: 10-period     50-period     200-period
Close:           433.84        399.77        225.13
Volatility:      64            118           115
Volume:          40,198,520    72,213,864    83,539,608

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 104.9% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.

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 12 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.