Tesla (TSLA) Closes Last Hour Down $-4.26; Moves Down For the 3rd Consecutive Day, in an Uptrend Over Past 90 Days

The Hourly View for TSLA

Last Updated October 20, 2020, 10:8 GMT

At the time of this writing, TSLA’s price is up $2.1 (0.48%) from the hour prior. This is the 3rd hour in a row TSLA has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 2.01% ($8.84) since the day prior, marking the 3rd consecutive day a decline has happened. The change in price came along side change in volume that was up 8.61% from previous day, but down 10.77% from the Monday of last week. Let’s take a look at the daily price chart of Tesla Inc.


Tesla Inc Technical Analysis

Coming into today Tesla Inc is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for Tesla Inc has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that Tesla Inc’s price has gone up 19 of the previous 30 trading days.

Overheard Around the Web

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

    $TSLA don't burn your cash in short term options. It makes absolutely no sense to hold through ER anything with earlier exp than Nov 20. IMO
    Risk/reward is poor for both calls and puts.
    Wait until Data is out, wait until they kill IV and then make your move according to own bias.

    Next 4 weeks will be crazy and very volatile, don't chase this single ER event, cuz ER is when Casino always wins. Always.

    If u r addicted, just buy real shares or long term contacts. Good luck!