Thinking About Riding the TSLA Uptrend? Read This First

The Hourly View for Tesla

  • At the moment, TSLA’s price is down $-5.4 (-0.53%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Tesla has now gone down 5 of the past 5 hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • The moving averages on the hourly 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 time of this writing, TSLA’s price is down $-139.44 (-11.99%) from the day prior.
  • This is the 3rd day in a row Tesla has seen its price head down.
  • As for the trend on the daily timeframe, we see the clearest trend 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 alert: Trend in TSLA’s price and its RSI are diverging. TSLA’s price is rising faster than its RSI.

Below is a daily price chart of Tesla.

TSLA

Featured Tesla Idea From TradingView

Below is a trading comment entitled TSLA – Micro RT Setup / Delta “beginning” to Square you may find interesting:

When Tesla breaks 1000, Momentum can re-assert.Trending is breaking down.The Tesla Big Rig, Tesla Van, Tesla Smartphone…The “New Tesla Roadster is here”Got $250K for one? Order now.No effect for the Cult of Elon._______________________________________________”Much has made lately of unrealized gains being a means of tax avoidance, so I propose selling 10 percent of my Tesla stock,” he wrote. Then, he asked h…

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