Tesla, Inc. (NASDAQ:TSLA) suing former employee Martin Tripp for more than $167 million

Tesla, Inc. (NASDAQ:TSLA) suing former employee Martin Tripp for more than $167 million

Tesla, Inc. (NASDAQ:TSLA) suing former employee Martin Tripp for more than $167 million

Tesla is seeking more than $167 million in a lawsuit against former employee Martin Tripp, recent legal filings revealed.

In the lawsuit, which was filed by the electric car maker in June, Tesla alleges that Tripp, a former process engineer, had illegally exported data and made false claims to reporters, among other things.

Tripp had earlier claimed in a number of press interviews that Tesla engaged in poor manufacturing practices at its massive battery plant outside of Reno, Nevada, and that it may have used damaged battery modules in its Model 3 vehicles, posing a risk to drivers.

An interim case management report published on Nov. 27 reveals that Tripp’s attorneys aim to depose Tesla CEO Elon Musk and more than 10 people involved with the company. Tesla has refused to make Musk available and sought to limit the number of people deposed by Tripp’s defense team at the law firm Tiffany & Bosco.

Overall, the bias in prices is: Upwards

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

By the way, prices are vulnerable to a correction towards 325.92.

The projected upper bound is: 404.77.

The projected lower bound is: 332.83.

The projected closing price is: 368.80.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.

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 50.7576. This is not an overbought or oversold reading. The last signal was a sell 4 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 63.22. 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 64 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 107.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 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 buy 3 period(s) ago.

Rex Takasugi – TD Profile

TESLA INC closed up 1.610 at 366.760. Volume was 38% below average (neutral) and Bollinger Bands were 47% narrower than normal.

Open High Low Close Volume___
369.910 372.169 360.230 366.760 6,308,769

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

Moving Averages: 10-period 50-period 200-period
Close: 355.46 319.21 312.41
Volatility: 28 78 72
Volume: 6,823,986 9,368,483 9,208,505

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 17.4% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into TSLA.O (mildly bullish). Our trend forecasting oscillators are currently bullish on TSLA.O and have had this outlook for the last 32 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH