Last Friday a lawsuit was filed in US District Court in the Central District of California against Tesla Motors Inc by a Model X owner, who claimed that his electric SUV suddenly accelerated while parking, which led to a severe accident and, as a result, injured the driver and a passenger. According to the owner of the vehicle, Ji Chang Son, during a night in September he was slowly entering the driveway, when the SUV suddenly picked up speed and crashed through his garage and straight into his living room.
Tesla shares closed lower for a second consecutive trading session on Friday last week. The stock went down 0.46% ($0.99) to $213.69, after falling to as low as $211.68, or a level not seen since December 23rd ($207.71). In the week ended on January 1st the shares of the electric vehicle manufacturer added 0.16% to their market value compared to a week ago, which marked the fourth consecutive period of gains. The stock advanced 12.82% in December to register its best performance since March 2016. Back then Tesla shares surged 19.72%. For the entire 2016, however, Tesla lost 10.97%.
According to an extract from the lawsuit: ”The vehicle spontaneously began to accelerate at full power, jerking forward and crashing through the interior wall of the garage, destroying several wooden support beams in the wall and a steel sewer pipe, among other things, and coming to rest in Plaintiffs living room.”
In a statement, Tesla responded that it had “conducted a thorough investigation” of the allegations by the owner, Son.
”The evidence, including data from the car, conclusively shows that the crash was the result of Mr. Son pressing the accelerator pedal all the way to 100 percent”, a spokesperson from the company said, cited by Reuters.
The NASDAQ 100-featured electric car manufacturer also stated that there were a number of ways for one to protect against pedal misapplication. Those included the use of Tesla’s Autopilot sensors, which would make a distinction between incorrect pedal application and normal cases.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, todays levels of importance for the Tesla stock are presented as follows:
R1 – $214.22
R2 – $214.76
R3 (Range Resistance – Sell) – $215.29
R4 (Long Breakout) – $216.89
R5 (Breakout Target 1) – $218.76
R6 (Breakout Target 2) – $219.57
S1 – $213.16
S2 – $212.62
S3 (Range Support – Buy) – $212.09
S4 (Short Breakout) – $210.49
S5 (Breakout Target 1) – $208.62
S6 (Breakout Target 2) – $207.81
By using the traditional method of calculation, the weekly levels of importance for Tesla Motors Inc (TSLA) are presented as follows:
Central Pivot Point – $216.39
R1 – $221.10
R2 – $228.51
R3 – $233.22
R4 – $237.93
S1 – $208.98
S2 – $204.27
S3 – $196.86
S4 – $189.45
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
