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Tesla
Ticker: NASDAQ:TSLA
Price: $655.90
Tesla News
Goldman says Tesla inclusion won’t make s&p 500 much pricier. According to today’s article on Bloomberg Quint, “Tesla shares have surged 644% this year, pushing the company’s market value close to $600 billion, of which about 80% is floating. “, “”Given Tesla’s large size and elevated multiple, many investors erroneously intuit that the company’s inclusion into the S&P 500 will lift the index’s current 22x P/E multiple — which already registers close to the highest levels on record — by two multiple turns or more,” Kostin and his colleagues wrote. “
Tesla going in s&p 500 is what the smart-beta geeks warned about. According to today’s article on Bloomberg Quint, “That demand will be squeezed into an “artificially short time-frame” and further distort prices, given that the funds that benchmark to the index need to make adjustments on the effective date, according to Dimensional Fund Advisors, which has owned Tesla in its funds for the past nine years.”, “But at the core of the philosophy is a belief that standard-investing benchmarks are weighed down by just the sort of rules that cause S&P to add Tesla after its market cap swelled by $500 billion in a year.”
Tesla only U.S. automaker meeting brake-safety commitment early. According to today’s article on Bloomberg Quint, “Tesla Inc. is the lone U.S. automaker to meet a commitment to equip all its models with automatic emergency braking almost two years ahead of schedule, as Detroit automakers lag behind the safety leaders.”, “Tesla is among 10 companies that have already fulfilled a promise to federal regulators to install the safety technology on its vehicles by Sept. 1, 2022, according to Consumer Reports magazine and the Insurance Institute for Highway Safety. “
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.
By the way, prices are vulnerable to a correction towards 500.02.
The projected upper bound is: 714.94.
The projected lower bound is: 606.08.
The projected closing price is: 660.51.
Candlesticks
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 25 white candles and 25 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 79.1291. This is not an overbought or oversold reading. The last signal was a sell 6 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 67.81. 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 6 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 2 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 33.130 at 655.900. Volume was 100% below average (consolidating) and Bollinger Bands were 28% wider than normal.
Open High Low Close Volume 628.190 658.820 619.500 655.900 83,874
Technical Outlook Short Term: Overbought Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 628.40 492.27 307.51 Volatility: 78 67 107 Volume: 47,426,928 39,249,264 68,538,240
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 113.3% above its 200-period moving average and is in an upward trend. Volatility is low 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 bullish on TSLA.O and have had this outlook for the last 20 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.
