Tesla (TSLA) Closes Last Hour Down $-0.61; But Still in an Uptrend Over Past 30 Days, Heads Down For the 2nd Consecutive Day

The Hourly View for TSLA

Last Updated September 17, 2020, 23:9 GMT

Currently, TSLA’s price is down $-12.7 (-2.87%) from the hour prior. TSLA has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Of note is that the 20 hour changed directions on TSLA; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50 and 100 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Tesla Inc Daily Price Recap

Tesla Inc closed the previous day down 4.15% ($18.33); this denotes the 2nd consecutive day a decline has happened. The price move occurred on volume that was up 5.03% from the day prior, but down 31.22% from the same day the week before. Here is a daily price chart of Tesla Inc.

TSLA

Tesla Inc Technical Analysis

The first thing we should note is that Tesla Inc is now close to its 20 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days Tesla Inc’s price has gone up 7 them.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to TSLA:

    $CRM

    All BIG stocks go up. Thumping high in market.
    below stocks goes $40% tp 50% in this september

    $CRM – No alternate to CRM salesforce and its customer base.$300 to $500 soon
    $DOCU – No alternate to DOCU and its institutional customers. $300 to $350 soon
    $TSLA – No alternate to Elon and 200 Years ahead of future business thinking.$750 by Thanks giving time.
    $AAPL – No alternate Mobile stock and its enormous cash reserves – Stable stock.$225 by Thanks giving sale.

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