Tesla, Inc. (NASDAQ:TSLA) loss of executives from critical positions and quick departures by external hires have been “worrisome”
Tesla Inc.’s executive turnover is higher than major Silicon Valley-based technology companies and is particularly acute among those reporting to Chief Executive Officer Elon Musk, according to a Bernstein analyst.
The electric-car maker has been changing over about 27% of its top executives on an annualized basis, said Toni Sacconaghi, a Bernstein analyst who rates Tesla shares the equivalent of a hold. That’s the highest rate among seven companies Sacconaghi benchmarked Tesla against, though Snap Inc. and Lyft Inc. have had similar levels of turnover, he wrote in a report Wednesday.
About 44% of executives reporting to Musk have changed over annually, Sacconaghi found, compared with about 9% on average at the other companies, which also include Amazon.com Inc., Uber Technologies Inc. and Facebook Inc.
“While one could argue that TSLA’s high turnover reflects its unique and demanding culture, we worry that such turnover not only causes instability but could also reflect more significant concerns among senior leaders about the company’s direction or workplace practices,” Sacconaghi wrote.
Tesla’s loss of executives from critical positions and quick departures by external hires have been “worrisome,” and at current rates, the company’s entire executive team of more than 150 people would be gone in less than four years, Sacconaghi wrote.
Tesla shares fell as much as 3% to $228.03 on Wednesday and are down about 31% for the year.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 242.23.
The projected lower bound is: 198.05.
The projected closing price is: 220.14.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 30.0821. This is not an overbought or oversold reading. The last signal was a buy 11 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 39.87. 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 -175.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 12 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 14 period(s) ago.
Rex Takasugi – TD Profile
TESLA INC closed down -15.380 at 219.620. Volume was 7% below average (neutral) and Bollinger Bands were 5% narrower than normal.
Open High Low Close Volume___
231.210 231.500 216.690 219.620 9,562,591
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 231.76 231.04 279.16
Volatility: 53 60 61
Volume: 6,003,310 8,950,062 9,219,346
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.
TESLA INC is currently 21.3% below 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 11 periods.
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