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Tesla
Ticker: NASDAQ:TSLA
Price: $729.77
Tesla News
Tesla stock soared to a new high Monday after the electric vehicle maker notched another delivery record during the fourth quarter.
Tesla (TSLA) fell just short of its stated goal of 500,000 deliveries in 2020, but shares 3.4% to 729.77 on the stock market today, hitting a record high intraday. The company said on Saturday it delivered 189,750 EVs in the quarter, vs. 174,000 expected by analysts, for a total of 499,550 in 2020. Final delivery numbers could vary up to 0.5% or more by the time Tesla reports quarterly results later this month, the company said.
Tesla reports its deliveries in model groups. For the fourth quarter, Model Y and Model 3 cars totaled 161.650, while Model S and Model X totaled 18,920.
Tesla stock analysts expect EV demand to pick up globally in 2021. In China, EV sales are seen growing by 40% to 1.8 million units in 2021 and reaching 6 million units in 2025.
Expect EV sales to ramp up from about 3% of total auto sales today to 10% by 2025. He says demand will “disproportionately benefit the clear EV category leader Tesla over the next few years especially in the key China region, which we think could represent 40% of its EV deliveries by 2022 given the current brisk pace of sales.”
The Tesla stock analyst added that Chinese EV makers BYD Co. (BYDDF), Nio, Xpeng and Li Auto also are “firing on all cylinders.”
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: 796.43.
The projected lower bound is: 675.39.
The projected closing price is: 735.91.
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 28 white candles and 22 black candles for a net of 6 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 87.7343. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 7 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 71.86. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 8 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 0 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed up 24.100 at 729.770. Volume was 100% below average (consolidating) and Bollinger Bands were 10% narrower than normal.
Open High Low Close Volume
719.460 744.490 717.190 729.770 247,637
Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 675.29 539.85 335.92
Volatility: 63 70 94
Volume: 53,600,460 43,904,888 66,530,204
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 117.2% above its 200-period moving average and is in an upward trend. Volatility is relatively normal 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 30 periods. Our momentum oscillator is currently indicating that TSLA.O is currently in an overbought condition. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.
