Tesla, Inc. (NASDAQ:TSLA) just can't seem to catch a break

Tesla, Inc. (NASDAQ:TSLA) just can’t seem to catch a break

Tesla Inc. just can’t seem to catch a break.

If the rout sparked by an SEC investigation into CEO Elon Musk’s tweets on taking the carmaker private wasn’t enough, a subsequent tweet storm mocking the agency and an unflattering comparison to Lehman Brothers Holdings Inc. slewed off even more value. Shares extended losses for a fifth straight session Monday, falling 4.3% to the lowest in more than 18 months.

The stock rebounded in after-hours trading, recovering about 1%, after Macquarie initiated coverage of Tesla (TSLA, +5.08%) with an outperform rating.

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 303.56.

The projected upper bound is: 309.12.

The projected lower bound is: 215.39.

The projected closing price is: 262.25.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white 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 9.6017. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 15 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 40.90. 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 buy 21 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 -117.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 5 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 3 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 12.240 at 262.800. Volume was 100% below average (consolidating) and Bollinger Bands were 12% narrower than normal.

Open High Low Close Volume___
255.250 266.770 253.300 262.800 1,333

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 284.55 307.85 314.31
Volatility: 148 98 69
Volume: 13,275,083 11,225,228 8,500,101

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 16.4% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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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