Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

Tesla Inc (NASDAQ:TSLA) HEFFX Highlights

  • Employee dismissals at Tesla are continuing at its SolarCity subsidiary, according to six former and current employees, and are affecting SolarCity offices across the U.S. Echoing reports from earlier this month, these SolarCity employees say they were surprised to be told they were fired for performance reasons, claiming Tesla (TSLA) had not conducted performance reviews since acquiring the solar energy business.
  • Earlier this month, Tesla began firing hundreds of employees after it announced a recall of 11,000 Model X SUVs. All the people spoke under condition of anonymity, citing fears of retaliation from Tesla.
  • Tesla had already announced plans to lay off 205 SolarCity employees at its Roseville, California, office by the end of October this year.
  • However, SolarCity employees across the country have been fired in the last two weeks — not just in California, but also in Nevada, Arizona, Utah and beyond, according to these employees.
  • Two former employees told CNBC that the Roseville office was being completely shut down. A Tesla spokesperson said the office will remain open with about 50 full-time employees.

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 ranging.

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

By the way, prices are vulnerable to a correction towards 346.21.

The projected upper bound is: 346.02.

The projected lower bound is: 304.20.

The projected closing price is: 325.11.

TESLA INC closed down -11.500 at 325.840. Volume was 100% below average (consolidating) and Bollinger Bands were 36% narrower than normal.

Open            High              Low              Close            Volume
336.700       337.500        323.560       325.840       10,510

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

Moving Averages: 10-period       50-period       200-period
Close:                       347.44            352.78             316.32
Volatility:                30                    38                     43
Volume:                   4,147,725       5,141,256         6,323,216

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 3.0% above its 200-period moving average and is in an downward trend. Volatility is relatively normal 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 7 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 4.8522. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 12 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 33.54. 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 85 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 -213.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 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 3 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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