Tesla is Down for the 3rd Day in a Row

The Hourly View for Tesla

  • Currently, TSLA’s price is down $-14.53 (-1.45%) from the hour prior.
  • The hourly chart shows that Tesla has seen 2 straight down hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Tesla’s hourly price chart is shown below.

TSLA

The Daily View for Tesla

  • At the moment, TSLA’s price is down $-42.71 (-4.13%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Tesla has now gone down 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence between TSLA’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in TSLA’s price.

Below is a daily price chart of Tesla.

TSLA

Featured Tesla Idea From TradingView

Below is a trading comment entitled TESLA – Steadily declining volume in the rally (NOT a good sign) you may find interesting:

Among my friends and acquaintances, I have been known as a Tesla perma-bull for years. So far, this has been quite a comfortable position. Today, however, I noticed something in Tesla’s macro chart that has me a bit worried. On the one hand, my Parabolic Exhaustion Indicator hit the alarm at the high in both the Daily and Weekly. This alone indicates with increased probability at least a temporary correction. But what I consider more dangerous is that the rally since March 2020 (70 USD to over 1200 USD) has taken place under steadily declining volume. As early as the …

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