Tesla Does it Again: Heads Up for the 2nd Straight Day

The Hourly View for Tesla

  • At the moment, TSLA’s price is down $-1.43 (-0.18%) from the hour prior.
  • It’s been a feast for bulls operating on an hourly timeframe, as Tesla has now gone up 4 of the past 5 hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Tesla’s hourly price chart is shown below.

TSLA

The Daily View for Tesla

  • At the time of this writing, TSLA’s price is up $11.86 (1.5%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Tesla has now gone up 4 of the past 5 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between TSLA’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in TSLA’s price.

Below is a daily price chart of Tesla.

TSLA

Featured Tesla Idea From TradingView

Below is a trading comment entitled TSLA: Still accumulating! What’s next for us? you may find interesting:

Hello traders and investors! Let’s see how TSLA is doing today!The support at $ 760s worked nicely for us, since our last update, and now TSLA is trying to break free from this congestion. We’ve been moving sideways since the end of September, and the $ 800 price area is the ceiling for TSLA.As long as it doesn’t break the $ 800, and close above it, confirming a true breakout, we’ll keep moving sideways. On the …

Nathan_Black