Tesla Snaps a 3 Day Down Streak

The Hourly View for Tesla

  • Currently, TSLA’s price is up $3.83 (0.47%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • Regarding the trend, note that the strongest trend exists on the 50 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 up $24.16 (3.07%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • 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.
  • 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 Continues Aiming Lower… you may find interesting:

It can bounce, as it just happened in March until early April… But then the correction will continue.We have the Tesla (TSLA) stock trading below EMA10, confirmed, after a shooting star last week. These are bearish signals.We are expecting a much bigger correction…Can’t wait for it to be OVER!See more details and full analysis t…

AlanSantana