Founded in 2003, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles. A brief history of Tesla’s vehicle lineup reveals the Tesla Roadster debuted in 2008, Model S in 2012, Model X in 2015, Model 3 in 2017, and Model Y in 2020.
Tesla also sells solar panels and solar roofs for energy generation plus batteries for stationary storage for residential and commercial properties including utilities.
Global deliveries in 2019 were 367,656 units. Based on third-quarter earnings data, Tesla remains on track and has the capacity to top its goal of 500,000 vehicle deliveries in 2020.
On Oct. 21, the company reported third-quarter revenue of .77 billion, representing a year-over-year increase of 39%. Revenue for the Palo Alto-based EV manufacturer came in higher than estimates of $8.26 billion. The sum of all automotive sales revenue for Tesla was $7.6 billion.
Seventy-three percent of readers said Tesla will reach $1,000 per share by 2022.
The most-cited reason for near-term growth. Many readers said Tesla is more than a car company and is instead a tech company that provides the automotive and household energy solutions of the future.
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.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 486.77.
The projected upper bound is: 684.94.
The projected lower bound is: 577.13.
The projected closing price is: 631.03.
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
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 26 white candles and 24 black candles for a net of 2 white candles.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 70.9231. This is not an overbought or oversold reading. The last signal was a sell 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 68.18. 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 1 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 16 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 22.590 at 627.070. Volume was 100% below average (consolidating) and Bollinger Bands were 126% wider than normal.
Open High Low Close Volume 574.370 627.750 566.340 627.070 64,376
Technical Outlook Short Term: Overbought Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 602.26 471.60 295.34 Volatility: 76 70 107 Volume: 45,260,624 39,373,876 69,684,672
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.
TESLA INC is currently 112.3% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect moderate flows of volume into TSLA.O (mildly bullish). Our trend forecasting oscillators are currently bullish on TSLA.O and have had this outlook for the last 15 periods.