Tesla (TSLA) Closes Prior Hour Down -0.09%; Heads Up For the 7th Consecutive Day, in an Uptrend Over Past 90 Days

The Hourly View for TSLA

Last Updated January 5, 2021, 02:05 GMT

At the moment, Tesla’s price is up $32.27 (4.58%) from the hour prior. Tesla has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 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 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 3.42% ($24.1) since the previous day, marking the 7th consecutive day an increase has occurred. This move happened on lower volume, as yesterday’s volume was down 5.03% from the day before — and down 9.08% from the same day the week before. Let’s take a look at the daily price chart of Tesla Inc.


Tesla Inc Technical Analysis

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

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

    $TSLA the justification for tsla valuation is its potential of ev automaker world dominance AND the withering of all ice carmakers that do not adapt fast enough. nothing to do with number of cars it produces or sells vs others presently. shorts should get over this mental blockage and move on to some other thesis or easier yet, join the tsla's longs side. bye to the former and welcome to the latter.