Tesla (TSLA) Closes Prior Hour Up 0.43%; Moves Up For the 6th Day In A Row, in an Uptrend Over Past 30 Days

The Hourly View for TSLA

Last Updated January 1, 2021, 23:18 GMT

Currently, Tesla’s price is down $-1.05 (-0.15%) from the hour prior. Tesla has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. 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 up 1.57% ($10.89) since the day prior, marking the 6th day in a row an upward move has occurred. The change in price came along side change in volume that was up 14.66% from previous day, but down 15.37% from the Thursday of last week. Below is a daily price chart of Tesla Inc.


Tesla Inc Technical Analysis

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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Tesla Inc’s price has gone up 21 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 Another thing I like looking at financials of Tesla. With growing revenue their SG&A is not exploding.
    Yep, I spent a lot of time in a BS world of penny stocks, when the whole revenue increase is always eaten by exploding SG&A.
    Not with Tesla. It is constantly about 12% of the rev. And I'm curious to see, how is it going to be in Q4 2020.
    I think the % will be lower than in Q4, something like 11.5% .

    Another nice thing u see on this picture: the promised economy of scale, in the record quarter Q3 2020, "SG&A / Gross Profit" was the lowest