Tesla became the world’s most valuable automaker in terms of market cap, following news of the electric carmaker being ready to bring the Tesla Semi to volume production.
Tesla stock price edged past $1,000 per share today. The resulting market cap of $185B exceeded Toyota Motors market cap near $180B .
“It’s time to go all out and bring the Tesla Semi to volume production. It’s been in limited production so far, which has allowed us to improve many aspects of the design,” Elon Musk said in a memo. “Production of the battery and powertrain would take place at Giga Nevada, with most of the other work probably occurring in other states.” (as reported by CNBC).Musk did not mention a timeline for production.
In November 2017, the company unveiled its Semi commercial truck, initially set to be delivered in 2019. However, the delivery timeline got pushed back, and Tesla said it planned to produce limited volumes of the Semi in 2020. In April, Tesla postponed production and deliveries of its all-electric Semi trucks until 2021.
TSLA enters an Uptrend because Momentum Indicator exceeded the 0 level on May 26, 2020
This indicator signals that TSLA's price has momentum to move higher, since its current price moved above its price 14 days ago. Traders may consider buying the ticker or exploring call options. In 53 of 68 cases where TSLA's Momentum Indicator exceeded 0, its price rose further within the subsequent month. The odds of a continued Uptrend are 78%.
Current price $1010.41 is above $835.10 the highest resistance line found by A.I. Throughout the month of 05/07/20 - 06/09/20, the price experienced a +21% Uptrend. During the week of 06/02/20 - 06/09/20, the stock enjoyed a +7% Uptrend growth.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) just turned positive. Considering data from situations where TSLA's MACD histogram became positive, in 32 of 44 cases, the price rose further within the following month. The odds of a continued Uptrend are 73%.
The Aroon Indicator entered an Uptrend today. In 208 of 268 similar cases where TSLA Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 78%.
Bearish Trend Analysis
The RSI Indicator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
The Stochastic Indicator demonstrated that the ticker has stayed in the overbought zone for 7 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The higher Bollinger Band was broken -- a price fall is expected as the ticker heads toward the middle band, which invites the trader to consider selling or shorting the ticker, or exploring put options. In 32 of 43 cases where TSLA's price broke its higher Bollinger Band, its price dropped further during the following month. The odds of a continued Downtrend are 74%.
Fundamental Analysis (Ratings)
Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 76%. During the last month, the daily ratio of advancing to declining volumes was 1.06 to 1.
The Tickeron Profit vs. Risk Rating rating for this company is 14 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 94, placing this stock better than average.
The Tickeron Price Growth Rating for this company is 34 (best 1 - 100 worst), indicating steady price growth. TSLA’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 90 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: TSLA's P/B Ratio (18.97) is very high in comparison to the industry average of (4.45). P/E Ratio (0.00) is within average values for comparable stocks, (39.32). TSLA's Projected Growth (PEG Ratio) (0.00) is slightly lower than the industry average of (0.85). Dividend Yield (0.00) settles around the average of (2.02) among similar stocks. P/S Ratio (4.01) is also within normal values, averaging (7.95).
The Tickeron SMR rating for this company is 97 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is 100 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.