Tesla Does it Again: Heads Up for the 3rd Straight Day

The Hourly View for Tesla

  • At the time of this writing, TSLA’s price is down $-1.01 (-0.12%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved up.
  • Regarding the trend, note that the strongest trend exists on the 100 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 moment, TSLA’s price is up $3.3 (0.41%) 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.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 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 Stock Analysis and market prediction you may find interesting:

Hello everyone, as we all know the market action discounts everything 🙂 _________________________________Make sure to Like and Follow if you like the idea_________________________________ TSLA is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so TSLA is performing more or less in line with the market.TSLA has been doing really well for itself, The Bullish trend for the stock has started back in August and the stocks seems to be trending in a Rising wedge pattern which indicates a reversal soon but there are no signs for a breakout yet.Both the short-term and long-term trends are positive. This is a very positive sign. The stock is trading at 805.72 and it’s nearing the resistance level located at 808.63 with a strong upward momentum which indicates a breakout of that resistance in the next day or so. This will lead the stock to have it focus on the resistance at 822.31 where the next target for the stock will be. But we might see some pullback that could lead to a drop in value for the stock but it shouldn’t be further than the support located at 784.54.Technical indicators show :1) The market is above the 5 10 20 50 100 and 200 MA and EMA (Strong Bullish Sign)2) The STO…

GabiDahdouh