Tesla shares gain for a third session in a row on Thursday, company faces complaint over worker rights

September 1, 2017 7:30 am

On August 31st a complaint has reportedly been filed against Tesla Inc (TSLA) by the US National Labor Relations Board in regard to unfair labor practices at the company. The agency cited complaints filed by three Tesla employees and the United Auto Workers union.

Tesla shares closed higher for a third consecutive trading session on Thursday. The stock went up 0.77% ($2.72) to $355.90, after touching an intraday high at $358.44, or a price level not seen since August 17th ($363.30). In the week ended on August 27th the shares of the electric car manufacturer added 0.17% to their market value compared to a week ago, which marked the sixth gain in the past seven weeks. The stock advanced 10.03% in August, which has been the strongest monthly performance since April. For the entire past year, the shares of the NASDAQ-listed electric car maker lost 10.97%. However, the stock has gained 66.55% so far during 2017.

According to the US labor board, Tesla Inc violated the rights of its employees, as the latter were urged to sign a confidentiality agreement, which could prohibit any comments about working conditions and safety issues at the auto maker’s facility in Fremont, California.

In their complaints, employees noted that if they were to speak publicly or to the media about anything related to their working environment, they might face termination or criminal prosecution.

“These allegations, which have been filed by the same contingent of union organizers who have been so outspoken with media, are entirely without merit”, Tesla Inc said in a statement, cited by Reuters.

The auto maker is expected to respond to allegations by September 14th.

According to CNN Money, the 20 analysts, offering 12-month forecasts regarding Tesla Inc’s stock price, have a median target of $322.50, with a high estimate of $464.00 and a low estimate of $155.00. The median estimate is a 9.38% decrease compared to the closing price of $355.90 on August 31st.

The same media also reported that 8 out of 23 surveyed investment analysts had rated Tesla Inc’s stock as “Hold”, while 6 – as “Buy”. On the other hand, 6 analysts had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Tesla stock are presented as follows:

R1 – $356.42
R2 – $356.93
R3 (Range Resistance – Sell) – $357.45
R4 (Long Breakout) – $358.99
R5 (Breakout Target 1) – $360.80
R6 (Breakout Target 2) – $361.57

S1 – $355.38
S2 – $354.87
S3 (Range Support – Buy) – $354.35
S4 (Short Breakout) – $352.81
S5 (Breakout Target 1) – $351.00
S6 (Breakout Target 2) – $350.23

By using the traditional method of calculation, the weekly levels of importance for Tesla Inc (TSLA) are presented as follows:

Central Pivot Point – $345.52
R1 – $359.19
R2 – $370.33
R3 – $384.00
R4 – $397.67

S1 – $334.38
S2 – $320.71
S3 – $309.57
S4 – $298.43

Where to Trade

BinaryTribune is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action, Binary Options and Social Trading.

Related