The Chart of the Day belongs to the automotive technology and manufacturer Tesla (TSLA) I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 5/22 the stock gained 35.96%.
Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, retail merchandise, and vehicle insurance services. This segment also provides sedans and sport utility vehicles through direct and used vehicle sales, a network of Tesla Superchargers, and in-app upgrades; purchase financing and leasing services; services for electric vehicles through its company-owned service locations and Tesla mobile service technicians; and vehicle limited warranties and extended service plans. The Energy Generation and Storage segment engages in the design, manufacture, installation, sale, and leasing of solar energy generation and energy storage products, and related services to residential, commercial, and industrial customers and utilities through its website, stores, and galleries, as well as through a network of channel partners; and provision of service and repairs to its energy product customers, including under warranty, as well as various financing options to its solar customers. The company was formerly known as Tesla Motors, Inc. and changed its name to Tesla, Inc. in February 2017. Tesla, Inc. was incorporated in 2003 and is headquartered in Austin, Texas.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 56% technical buy signals
- 19.89+Weighted Alpha
- 16.25% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 17 new highs and up 52.87% in the last month
- Relative Strength Index 86.04%
- Technical support level at $253.47
- Recently traded at $256.79 with 50 day moving average of $187.29
Fundamental Factors:
- Market Cap $820 billion
- P/E 73.48
- Revenue projected to grow 22.00% this year and another 28.60% next year
- Earnings estimated to increase 40.30% next year and continue to compound at an annual rate of 10.66% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 12 strong buy, 6 buy , 15 hold and 5 sell opinions on the stock
- Analysts price targets are between $24 and $335 with a consensus of $196 for a projected loss of 24%
- The individual investors on Motley Fool voted 3,722 to 1,040 for the stock to beat the market with the more experienced investors voting 712 to 94 for the same result
- Value Line rates the stock its lowest rating of 5 with a price an 18 month price target of $246
- CFRAs MarketScope rates it a 4 star buy with a 12 month price target of $300
- 1,070,000 investors monitor the stock on Seeking Alpha
Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in the next 72 hours.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
