Tesla (TSLA) Closes Prior Hour Down -1.09%; Pin Bar Pattern Appearing on Chart, 5 Day Up Streak Ended, in an Uptrend Over Past 90 Days

The Hourly View for TSLA

Last Updated September 16, 2020, 23:7 GMT

Currently, TSLA’s price is up $0.97 (0.22%) 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 50 hour timeframe. 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 is down 1.78% ($8) since yesterday, marking a reversal from the day prior — and the end of a 5 day positive run. This move happened on lower volume, as yesterday’s volume was down 25.29% from the day before — and down 35% from the same day the week before. Below is a daily price chart of Tesla Inc.

TSLA

Tesla Inc Technical Analysis

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. For another vantage point, consider that Tesla Inc’s price has gone up 18 of the previous 30 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about TSLA:

    $TSLA Hey guys, been invested in tesla since mid march/april with in entry price of 475(pre split). Been trading options for a while but what i am wondering is will the battery day event have a similar IV crush as Q2 earnings did. Specifically if im holding 3 9/25 calls will thw premiums get crush the day after even if the news is great enough to have a run up. Or should i sell my calls tuesday before the event happens thanks.

    JMB1991