Tesla Just Breached This Major Moving Average Level

The Daily View for Tesla

  • Currently, TSLA’s price is down $-1.26 (-0.18%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Tesla has now gone up 4 of the past 5 days.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Tesla. Given that we see downtrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Tesla’s hourly price chart is shown below.

TSLA

The Daily View for Tesla

  • At the moment, TSLA’s price is down $-3.3 (-0.48%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 100 day moving average, resulting in them so that price is now turning below it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Tesla.

TSLA

Featured Tesla Idea From TradingView

Below is a trading comment entitled Bitcoin and Tesla chart similarities..! you may find interesting:

upper chart: Bitcoinlower chart: TeslaI have published multiple analyses on bitcoin and tesla and compared them before. (please check my previous analysis published on January 9th, compare Bitcoin and tesla)Bitcoin is the best-performed Asset of the dec…

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