On Tuesday, Tesla announced plans to sell up to $5 billion worth of its stock in an "at-the-market" offering program.
In a Securities and Exchange Commission filing, the electric carmaker stated that it has entered into a “equity distribution agreement” to sell up to 10 million shares, or about 1.1% of its total shares outstanding.
Tesla’s move apparently seeks to take advantage of its recent stock price climb and split. Its shares have surged more than +50% since it revealed plans for the stock split.
According to Tickeron, TSLA's in Uptrend: Moving Average Convergence Divergence (MACD) Histogram just turned positive
This is a Bullish indicator signaling TSLA's price could rise. Traders may explore going long on the ticker or buying call options. In 34 of 44 cases where TSLA's MACD histogram became positive, the price rose further within the following month. The odds of a continued Uptrend are 77%.
Current price $476.61 is above $299.82 the highest support line found by A.I. Throughout the month of 07/30/20 - 08/31/20, the price experienced a +68% Uptrend. During the week of 08/24/20 - 08/31/20, the stock enjoyed a +24% 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 47 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 72%.
Bearish Trend Analysis
The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 10 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 11 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 27 of 45 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 60%.
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 77%. During the last month, the daily ratio of advancing to declining volumes was 1.74 to 1.
The Tickeron Profit vs. Risk Rating rating for this company is 2 (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 PE Growth Rating for this company is 3 (best 1 - 100 worst), pointing to outstanding 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 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 SMR rating for this company is 88 (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: P/B Ratio (47.03) is normal, around the industry mean (-9.74). TSLA's P/E Ratio (1296.70) is considerably higher than the industry average of (222.15). 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 (35635.43).
The Aroon Indicator for TSLA entered a downward trend on April 26, 2024. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 166 similar instances where the Aroon Indicator formed such a pattern. In of the 166 cases the stock moved lower. This puts the odds of a downward move at .
The 10-day RSI Indicator for TSLA moved out of overbought territory on April 30, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 38 similar instances where the indicator moved out of overbought territory. In of the 38 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator 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.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where TSLA declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
TSLA broke above its upper Bollinger Band on April 29, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Momentum Indicator moved above the 0 level on April 29, 2024. You may want to consider a long position or call options on TSLA as a result. In of 73 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for TSLA just turned positive on April 25, 2024. Looking at past instances where TSLA's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .
TSLA moved above its 50-day moving average on April 29, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a +1 3-day Advance, the price is estimated to grow further. Considering data from situations where TSLA advanced for three days, in of 348 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable 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 Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 86, placing this stock slightly better than average.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. TSLA’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is (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 Valuation Rating of (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: P/B Ratio (8.905) is normal, around the industry mean (6.070). P/E Ratio (40.726) is within average values for comparable stocks, (18.064). Projected Growth (PEG Ratio) (2.067) is also within normal values, averaging (5.553). TSLA has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.043). P/S Ratio (6.305) is also within normal values, averaging (74.312).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of electric sports cars
Industry MotorVehicles