Tesla Inc (NASDAQ:TSLA) Battery Tech Chief Quit

Tesla Inc (NASDAQ:TSLA) Battery Tech Chief Quit

Tesla Inc (NASDAQ:TSLA) Battery Tech Chief Quit

Kurt Kelty, director of battery technology at Tesla, has stepped down from his post just days after the company’s lavish party to celebrate the delivery of the first Model 3s, Bloomberg reports. Kelty, who has worked at Tesla since 2006, led Tesla in forging partnerships and battery cell material sourcing at the company’s Gigafactory near Reno, Nevada. He was also responsible for the overall performance of Tesla’s batteries.

“We can confirm that Kurt Kelty has left the company to explore new opportunities and we want to thank him for everything he’s done for Tesla,” a company spokesperson told The Verge by email. “Kurt’s responsibilities will be distributed among Tesla’s existing teams.”

Prior to joining Tesla, Kelty worked at Panasonic for nearly 15 years. At Tesla, Kelty served as lead negotiator with Panasonic for that facility, according to LinkedIn. Earlier this year, he accepted the award for “Battery Innovator of the Year” presented by the 34-year-old International Battery Seminar.

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 ranging.

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

The projected upper bound is: 344.93.

The projected lower bound is: 294.56.

The projected closing price is: 319.74.

TESLA INC closed down -3.900 at 319.570. Volume was 100% below average (consolidating) and Bollinger Bands were 39% narrower than normal.

Open            High            Low            Close          Volume
323.000      324.450      316.130      319.570      6,649

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

Moving Averages: 10-period       50-period      200-period
Close:                       332.21            343.72            270.09
Volatility:                40                   47                    42
Volume:                  5,859,648      8,236,990     6,045,810

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 18.3% 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 19 periods. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.

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 18.5349. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 3 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 40.76. 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 25 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 -109.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 3 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 7 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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