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

The Hourly View for Tesla

  • At the time of this writing, TSLA’s price is up $15.26 (1.46%) from the hour prior.
  • Tesla has seen its price go up 5 out of the past 5 hours, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them with price now being above it. The moving averages on the hourly 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.

Tesla’s hourly price chart is shown below.

TSLA

The Daily View for Tesla

  • Currently, TSLA’s price is up $7.09 (0.68%) from the day prior.
  • Tesla has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 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 TESLA/ TSLA to return to its bullish trend by Friday you may find interesting:

Tesla has been performing very well in the last 2 years and I anticipate it to continue doing well. We see our bullish trend respected however we have now seen a bullish pennant forming which allows the stock to make corrections withing the pennant in the form of a cons…

NASDAQ_Guru