Tesla, Inc. (NASDAQ:TSLA) electric-car maker to add two new independent directors

Tesla, Inc. (NASDAQ:TSLA) electric-car maker to add two new independent directors

Tesla, Inc. (NASDAQ:TSLA) electric-car maker to add two new independent directors

Friday begins a new age for Tesla Inc.’s board and Elon Musk’s Twitter feed.

It’s the deadline the Securities and Exchange Commission set for the electric-car maker to add two new independent directors, plus take a series of steps to better check its volatile chief executive officer’s presence on social media. Those measures include setting up a board committee and employing a securities lawyer to oversee governing senior executives’ tweets and posts on other platforms that are material to the company.

Musk’s communications, in particular, are required to be more closely scrutinized under the agreement Tesla reached in September to settle a lawsuit over the CEO’s tweets about taking the company private. The carmaker already complied with the SEC’s order to name a new chairman by tapping existing director Robyn Denholm to take over from Musk in November.

Overall, the bias in prices is: Downwards.

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

The projected upper bound is: 352.20.

The projected lower bound is: 282.32.

The projected closing price is: 317.26.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

Momentum Indicators

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 37.2813. This is not an overbought or oversold reading. The last signal was a buy 1 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 42.40. 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 75 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 -89. This is not a topping or bottoming area. The last signal was a buy 1 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 7 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed down -9.960 at 316.130. Volume was 100% below average (consolidating) and Bollinger Bands were 13% wider than normal.

Open High Low Close Volume___
319.840 322.172 301.500 316.130 3,735

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

Moving Averages: 10-period 50-period 200-period
Close: 333.37 333.39 312.42
Volatility: 92 71 74
Volume: 6,756,704 8,236,516 9,275,149

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 1.2% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 7 periods.

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One Response to "Tesla, Inc. (NASDAQ:TSLA) electric-car maker to add two new independent directors"

  1. Paul Ebeling   December 28, 2018 at 7:26 am

    Mate,

    Tesla’s $54-B market cap is the largest among US automakers.

    More than 20% of the nearly 130-M share float is sold short.

    Near $300/share, the stock is trading toward the middle of its 2-year trading range.

    My works says, Neutral to Bearish, MACD Very Bearish. EMA Very Bearish

    The Trend is Neutral

    The stock looks oversold in here.

    Q-4 production and deliveries are due today.

    The balance sheet is weak and the DOJ/SEC investigations are on going.

    Peace,

    Paul

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