Tesla (TSLA) Closes Last Hour Up $3.78; Bearish Engulfing Pattern Present, Heads Up For the 2nd Consecutive Day, in an Uptrend Over Past 30 Days

The Hourly View for TSLA

Last Updated September 11, 2020, 15:5 GMT

Currently, TSLA’s price is down $-6.18 (-1.66%) from the hour prior. The hourly chart shows that TSLA has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50 and 100 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Tesla Inc Daily Price Recap

Tesla Inc closed the day prior up 1.38% ($5.06); this denotes the 2nd consecutive day an upward move has occurred. The price move occurred on volume that was up 8.78% from the day prior, but down 26.69% from the same day the week before. Let’s take a look at the 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 additional context, note that price has gone up 5 out of the past 10 days. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 90 and 30 day charts, may be slowing down and ready to reverse.

Overheard Around the Web

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

    $PLM $TSLA Last week I posted my watchlist with all Nickel miners coupled with a rant about nickel and its future. Hopefully some of you took the time and picked ones that you felt were good after DD. PLM popped 100% since , HNCKF Giga Metals 200% today, $VALE nice and strong through the bloody chaos. BHP is strong as well. $SOLO $NKLA Don’t sleep !!

    ilandavaso