For another vantage point, consider that tesla inc’s price has gone up 17 of the previous 30 trading days.
Have to admit, the dip to 456 almost spooked me.
This move is a reversal from the hour prior, which saw price move up.
Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe.
Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
The price move occurred on stronger volume; specifically, yesterday’s volume was up 72.23% from the day prior, and up 44.07% from the same day the week before.
As for how volume fared, yesterday’s volume was up 7.26% from the previous day (tuesday), and up 33.15% from wednesday of the week before.