-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
TSLA Technical Analysis
- Thread starter Robert.Boston
- Start date
-
- Tags
- TSLA
On Tuesday, TSLA pierced beneath its 50-day SMA (simple moving average) before rebounding above. Today it is surging above its 200-day SMA. Holding above that level could be seen as a positive technical sign.
News of possible alliance with APPLE, resolution of German lawsuit, Proposal for Lithium plant in Texas, and Increase in production at Berlin and in China might have an influence in addition to a positive market.
TSLA has closed to the upside for 5 successive sessions following a rebound from its 50-day SMA (simple moving average). Its 200-day SMA was surpassed on Friday with further advance today; that’s technically encouraging. The next target would be the August 16th high of $314.67.
Despite weakness in the macros today, TSLA moved further above its 200-day SMA (simple moving average) and has closed upward for 7 of 8 sessions. Looking good technically as money pours in its direction.
If not stated explicitly, there can be confusion between a Simple Moving Average (SMA) and an Exponential Moving Average (EMA). I have found an SMA to be more useful for technical analysis outlooks, expecially when examing the relationship between two SMAs. IMO, the EMA was a silly invention with overly complex rules. If one wants to distribute the weighting in an MA graph, then just compare multiple SMAs. That more clearly shows how the situation has been evolving.
TSLA has closed up for 3 straight sessions and near its high today, just falling short of its 50-day SMA (simple moving average). Meanwhile, it appears that that SMA will soon surpass the 200-dsay SMA in a Golden Cross. That could be quite bullish.
That's the good news. However, I'm in the midst of a major hurricane; its eye has just grazed near my home. I've been ordered to stay in my house. There was no evacuation order due to my 30-foot elevation. So far, only one tree in my yard is down. My brother's winter home four miles to my south was under an evacuation order yesterday due to its 1-foot elevation beside a canal that leads to a river that empties into the Gulf. When it's safe, I'll inspect his property.
That's the good news. However, I'm in the midst of a major hurricane; its eye has just grazed near my home. I've been ordered to stay in my house. There was no evacuation order due to my 30-foot elevation. So far, only one tree in my yard is down. My brother's winter home four miles to my south was under an evacuation order yesterday due to its 1-foot elevation beside a canal that leads to a river that empties into the Gulf. When it's safe, I'll inspect his property.
Below is what the chief TA Craig Johnson at Piper Sandler wrote this morning. I bought my first Tesla shares when he sent me a similar comment nearly 10 years ago.
• TSLA—Shares have pulled back from the upper end of a declining price channel. • Currently retesting the 10-/30-week WMAs. • RS has climbed back into positive territory and impressive TechniGrade ranking. • Add to positions on a downtrend reversal.
• TSLA—Shares have pulled back from the upper end of a declining price channel. • Currently retesting the 10-/30-week WMAs. • RS has climbed back into positive territory and impressive TechniGrade ranking. • Add to positions on a downtrend reversal.
Here you go for some technical analysis...TSLA is below all of its moving-day averages. This could be seen as good or bad.
That’s usually indicative of something, I’m scratching my head to remember what it is though.. hmm.
mach-edriver
Member
Ari Wald of Oppenheimer has been saying that the one missing element to a market bottom was a decline in rates. He said today that the bond rally following Thursday's CPI numbers provides that. With that in place, perhaps we'll see TSLA rally along with the other oversold big tech names.
It was ten years ago this week that I received a similar message from Craig and bought my first TSLA shares.
Craig Johnson of Piper Sandler - today:
TSLA—Shares have recovered from oversold levels and subsequently reversed a ST downtrend. • RS has inflected higher off multi-year lows. • Add to positions on a topside breakout (close above the 30-week WMA)
Craig Johnson of Piper Sandler - today:
TSLA—Shares have recovered from oversold levels and subsequently reversed a ST downtrend. • RS has inflected higher off multi-year lows. • Add to positions on a topside breakout (close above the 30-week WMA)
Similar threads
