Tesla Inc (NASDAQ:TSLA) Adds Members To Board & Auto-Pilot Malfunction

Tesla Inc (NASDAQ:TSLA) Adds Members To Board & Auto-Pilot Malfunction

Tesla Inc (NASDAQ:TSLA) Adds Members To Board & Auto-Pilot Malfunction

  • Tesla has added two new independent directors to its board, including 21st Century Fox CEO James Murdoch and Johnson Publishing Company CEO and Chairman Linda Johnson Rice. The two new board members were added just a few months after Tesla confirmed it was seeking additional independent directors without ties to CEO and founder Elon Musk.
  • Until now, Tesla’s board included five (of six total directors, prior to these additions) people with either personal or professional ties to Musk. A group of powerful investors in the company, including the California State Teachers’ Retirement System, issued a letter to the company in April asking for the addition of two new independent members without direct ties to Musk.
  • A Tesla owner who blamed his car’s autopilot feature for “suddenly accelerating” and flipping his vehicle has said that it was actually him.
  • The crash occurred west of the Minneapolis, Minnesota, and David Clark claimed he had engaged the semi-autonomous driving feature in his Tesla electric car on a country road.
  • According to the Kandiyohi County Sheriff’s office, Mr Clark’s Tesla was found overturned in a marsh but the injuries were “minor”.

Tesla, Inc., formerly Tesla Motors, Inc., designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage. The Automotive segment includes the design, development, manufacturing, and sales of electric vehicles. The Energy generation and storage segment includes the design, manufacture, installation, and sale or lease of stationary energy storage products and solar energy systems to residential and commercial customers, or sale of electricity generated by its solar energy systems to customers. The Company produces and distributes two fully electric vehicles, the Model S sedan and the Model X sport utility vehicle (SUV). It also offers Model 3, a sedan designed for the mass market. It develops energy storage products for use in homes, commercial facilities and utility sites.

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the downside.

The projected upper bound is: 345.45.

The projected lower bound is: 294.66.

The projected closing price is: 320.05.

TESLA INC closed down -8.210 at 319.570. Volume was 100% below average (consolidating) and Bollinger Bands were 88% wider than normal.

Open           High            Low           Close          Volume
325.540      327.100      313.450     319.570     5,021

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period          50-period      200-period
Close:                       324.53               340.17            263.03
Volatility:                63                       48                   42
Volume:                   10,680,463      8,106,252      5,846,796

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

TESLA INC is currently 21.5% above its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of TSLA.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on TSLA.O and have had this outlook for the last 8 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 64.1412. This is not an overbought or oversold reading. The last signal was a buy 4 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 39.32. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 14 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -57. This is not a topping or bottoming area. The last signal was a buy 4 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 17 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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