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Tesla, Inc. (NASDAQ:TSLA) moves wildly, depending on its founder’s moods

, Inc. (NASDAQ:TSLA) moves wildly, depending on its founder’s moods

is 15 years old, but it’s still fundamentally a startup. And being a startup in the capital-intensive car business means raising billions of dollars to spend on manufacturing infrastructure. In recent months, as Tesla races toward volume production of its mass-market Model 3 sedan, some analysts have warned that Tesla could be months away from running out of cash.

The company burned through more than $1 billion in the first quarter of 2018, ending the quarter with less than $2.7 billion in the bank. Tesla likely has even less than that today—we’ll find out how much less when Tesla announces its second quarter financial results next week.

Over the past three years, Tesla’s valuation has increased exponentially, reaching $60 billion at one point while the company remains unprofitable and its market capitalization has surpassed American auto makers Ford Motor Co. (F) and General Motors Co. (GM).

But as much as Musk gets great press for his dynamic ideas, Musk also bucks Wall Street protocol by taking his ire out on analysts who dare question his strategies as Tesla’s debt surged and production dates are pushed back. After reporting the company’s worst quarterly loss on May 2, Musk cut off analysts asking about its capital requirements, stating “Excuse me, next, next. Boring, bonehead questions are not cool.”

Overall, the bias in prices is: Downwards.

The projected upper bound is: 334.90.

The projected lower bound is: 279.30.

The projected closing price is: 307.10.

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 26 white candles and 24 black candles for a net of 2 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 37.1753. This is not an overbought or oversold reading. The last signal was a sell 4 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 43.81. 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 26 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 -66. This is not a topping or bottoming area. The last signal was a buy 1 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 22 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -2.090 at 306.650. Volume was 48% below average (neutral) and Bollinger Bands were 22% narrower than normal.

Open High Low Close Volume___
304.850 310.700 303.641 306.650 4,630,522

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

Moving Averages: 10-period 50-period 200-period
Close: 312.53 316.34 318.78
Volatility: 46 55 52
Volume: 6,970,520 8,735,512 7,235,046

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 3.8% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of TSLA.O (mildly bearish). Our trend forecasting oscillators are currently bearish on TSLA.O and have had this outlook for the last 12 periods.