Tesla Motors (TSLA - Get Report) has its share of fans, and it's easy to understand why. In the future, perhaps we'll all drive battery-operated cars and live in battery-powered houses. Who wouldn't want to see that future become a reality?
However, Tesla also has its share of detractors, and an incident that occurred over the Independence Day weekend highlights this point. On a Sunday afternoon,in the midst of the biggest holiday weekend of the summer, Tesla decided to engage in a bit of chicanery.
The company released negative news at time when it knew few would be paying attention. Tesla announced on Sunday that it sold 14,370 vehicles in the second quarter, well short of its projection 17,000.
It's not that unusual for a company to miss a sales or production target, but the attempt to bury the news was a calculated decision that reflects poorly on Tesla. It was a maneuver that could cause discerning investors to view the company in a less positive light.
In that regard, it was reminiscent of Tesla's recent decision to purchase SolarCity Corporation (SCTY) . While that deal does have some potential positives, it smacks of corporate incest due to Elon Musk's leadership positions in both companies.
Much like the company itself, Tesla's chart presents a variety of conflicting evidence of both the bullish and bearish variety.
On the bearish side, Tesla finds itself flush against its 200-day moving average (red), which has acted as resistance in the recent past (arrows). Tesla's 50-day moving average (blue) is about to cross below its 200-day moving average. If the crossover occurs, it will generate a bearish signal known as a death cross (shaded blue).
Offsetting this bearish signal is a bullish crossover on the stock's moving average convergence divergence (MACD) indicator, which occurred last week (shaded yellow). That indicator is forming a series of higher lows, which is also considered bullish.
Another bullish signal appears on the stock's weekly chart. In that timeframe, the two most recently closed candles form a candlestick pattern known as bullish engulfing (shaded yellow).
Perhaps the oddest part of this weekend's incident is that the news wasn't entirely bad. Tesla may have missed its sales target in the second quarter, but the company did note that production increased toward the end of the quarter and exceeded expectations. That's a positive development, once again highlighting the duality of this company.
Editor's Note: This article was originally published at 9 a.m. EDT on Real Money on July 5.