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A few days ago, I took a ride in a 2017-model Honda, fuelled with gasoline, which virtually drove itself. And it’s becoming increasingly clear that this is the future of the automobile. We the people will no longer play a role in getting from place to place. Robotic cars will do the work for us, and increasingly we will consider them a service to hire as needed. This is the beginning of a brave new world.

And that, of course, takes me to the story of Tesla Motors, which a decade ago began selling high-performance electric roadsters based on a new kind of battery. The company took its name from the great engineer and futurist Nikola Tesla (1856 –1943) who has become part of the world of physics. In 1960, the General Conference on Weights and Measures named the unit of magnetic flux density the “tesla” in his honor.

The chart above shows Tesla’s recent performance. After years of losses, in the last quarter, the company’s net income finally got out of the red. It went from a loss of US$1.78 per share to a gain of US$0.14. This is a fairly big deal, but what is more important is that a few days ago the company changed its name and its mission. It’s now Tesla Inc. (TSLA ), and its business is high-performance batteries and other electric technologies. That interested me for two reasons. One is that I see car ownership as soon becoming a thing of the past. The other is that these batteries, as they become more cost-effective, could help reduce carbon emissions. So I did a few charts and bought some shares.

On the chart above, you will notice a probable breakout in the last few days. You will also notice a golden cross, which is often a bullish signal. Interestingly, you will notice similar features in the five-year chart below.A breakout seems to be forming. If it does, the key moving averages for this longer-term chart will construct a golden cross of their own.

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