Tesla Inc (NASDAQ:TSLA) Defeats Car Dealership In Missouri Court

Tesla Inc (NASDAQ:TSLA) Defeats Car Dealership In Missouri Court

Tesla Inc (NASDAQ:TSLA) Defeats Car Dealership In Missouri Court

  • Earlier this year, Tesla was forced to temporarily close its stores in Missouri after the Missouri Automobile Dealers Association (MADA), a trade group representing car dealers in the state, tried to have Tesla’s dealer license revoked.
  • A three-judge panel of the Missouri Court of Appeals ruled in favor of Tesla this week and dismissed the case in a big win for the automaker’s continuous fight for direct sales.
  • The court ruled that the dealer association had no standing to sue Telsa.
  • Local KCUR outlet reported: “In finding for Tesla, the appeals court ruled on narrow grounds, rejecting the plaintiffs’ arguments that, as economic competitors and taxpayers, they were entitled to challenge the issuance of licenses to Tesla.”

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 stalling.

Intermediate term: Prices are trending.

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

The projected upper bound is: 332.60.

The projected lower bound is: 292.64.

The projected closing price is: 312.62.

TESLA INC closed up 9.560 at 313.260. Volume was 100% below average (consolidating) and Bollinger Bands were 57% narrower than normal.

Open            High             Low                Close           Volume
300.100       313.390       300.000       313.260       2,331

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

Moving Averages: 10-period         50-period          200-period
Close:                       310.76               326.95               324.39
Volatility:                30                      39                       44
Volume:                  4,556,293         6,062,269         6,576,822

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 3.4% below its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. 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 36 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 41.7382. This is not an overbought or oversold reading. The last signal was a buy 25 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 48.36. 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 buy 22 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 -42. This is not a topping or bottoming area. The last signal was a buy 0 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 buy 15 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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