Tesla (TSLA,$2,085.52) touches new high, exceeding $2,000

Electric carmaker Tesla Inc.’s  shares jumped to a new record high on Friday, on stock split news.

Shareholders of record at the end of the Friday session will be given four additional shares of Tesla stock for each share held. The shares will be distributed  on August 28.

A company's stock split has often led to the share price rising, as many investors view the split a sign of confidence in the company’s prospects.  

Tesla shares climbed +2.7%  in early trading Friday to $2,055.00 each.

What’s more, the company’s shares are expected to be included on the S&P 500. According to Credit Suisse analysts, the S&P 500 inclusion could lead to 'significant' additional of around 18 million shares ( which is around 10% of its outstanding total) from passive investors and fund managers that track the benchmark.

According to Tickeron, TSLA's Aroon indicator reaches into Uptrend on July 22, 2020

For traders, this could mean going long on the ticker or exploring call options in the next month. In 213 of 276 cases where TSLA Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 77%.

Current price $2085.52 is above $1499.11 the highest support line found by A.I. Throughout the month of 07/21/20 - 08/20/20, the price experienced a +28% Uptrend. During the week of 08/13/20 - 08/20/20, the stock enjoyed a +23% Uptrend growth.

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator exceeded the 0 level on August 12, 2020. Traders may consider buying the ticker or exploring call options. In 48 of 65 cases where the ticker's Momentum Indicator exceeded 0, its price rose further within the subsequent month. The odds of a continued Uptrend are 74%.

The Moving Average Convergence Divergence (MACD) just turned positive. Considering data from situations where TSLA's MACD histogram became positive, in 31 of 44 cases, the price rose further within the following month. The odds of a continued Uptrend are 70%.

Bearish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

The Stochastic Indicator demonstrated that the ticker has stayed in the overbought zone for 4 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 34 of 46 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 79%. During the last month, the daily ratio of advancing to declining volumes was 1.54 to 1.

The Tickeron Profit vs. Risk Rating rating for this company is 4 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 93, 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 PE Growth Rating for this company is 38 (best 1 - 100 worst), pointing to consistent 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.

The Tickeron SMR rating for this company is 89 (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 Valuation Rating of 99 (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 (37.78) is very high in comparison to the industry average of (6.42). TSLA's P/E Ratio (1041.81) is considerably higher than the industry average of (197.15). TSLA's Projected Growth (PEG Ratio) (3.64) is slightly higher than the industry average of (1.40). Dividend Yield (0.00) settles around the average of (1.88) among similar stocks. P/S Ratio (8.69) is also within normal values, averaging (35632.04).