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TSLA Technical Analysis
- Thread starter Robert.Boston
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ev-enthusiast
Active Member
Volume seems to be very low today, currently 80k after 2hrs compared to 5M per day average.
If I remember correctly average was about 10M quite some months ago...
If I remember correctly average was about 10M quite some months ago...
Yes, all week has been quite low volume. But I don't recall the average volume (90 days I think is what's usually reported) ever being much over 6M.
ev-enthusiast
Active Member
ev-enthusiast
Active Member
Here is a current daily chart showing a possible regression channel.
Lower bound is at about $240, we'll see if this is support during todays trading session.
RSI was a bit high (above 75) recently signaling overbought.
Next resistance could be $260.
What do the more experienced chartists think about the current situation?
Any unicorns?
Update: Max Pain for options expiring end of this week is currently at $245.
Lower bound is at about $240, we'll see if this is support during todays trading session.
RSI was a bit high (above 75) recently signaling overbought.
Next resistance could be $260.
What do the more experienced chartists think about the current situation?
Any unicorns?
Update: Max Pain for options expiring end of this week is currently at $245.
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ev-enthusiast
Active Member
Max Pain is still $245 for options expiring end of this week.
Looks like a pin at Max Pain.
Let's see if we can get a close little bit above the Max Pain value today.
Update: Today's close came in at $245.55 with low trading volume compared to the average daily trading volume. RSI at 68.8 right now.
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ev-enthusiast
Active Member
We got great support and a nice bounce at the lower channel boundary during the last days.
One more leg up in the current channel would bring us roughly in the $260 area where we could see some resistance.
One more leg up in the current channel would bring us roughly in the $260 area where we could see some resistance.
What does everyone think of the chart? If I squint I see a triangle formed so we should break out, right? And with the current bias upward, shouldn't we break out to 260 in the next 10 days? (Fib resistance, etc).
I would draw on a chart, but its pretty clear...
I would draw on a chart, but its pretty clear...
ev-enthusiast
Active Member
Hi austinEV,
agree on the triangle.
We are currently sitting right above the lower regression channel boundary.
Each of the prior three legs up made a move of about $20.
As far as I can see one more leg upwards in the current channel would propell us to the $265 region in about 10 days.
Could you please draw a chart?
Where do you currently see the fib levels?
Thanks in advance!
Here you go. I think a lot of people are looking at 260 as potential resistance since that was the last local top, and some Fibonacci magic that I don't know. There is no real reason to hang out where we are right now, between the 20day MA and the 260 level. I added the 8 day EMA because this recent rise has been riding it and it is still defending.
A bit more zoomed in:
ev-enthusiast
Active Member
We got a nice bounce from the lower regression channel boundary.
Let's see if we can get a close above $250.
Let's see if we can get a close above $250.
ev-enthusiast
Active Member
Today's close came in at $251.52 slightly above the $250 mark.
That's a palindrome of figures, nice
We got a nice bounce from the lower regression channel today.
ev-enthusiast
Active Member
This weeks close came in at $250.75, slightly above $250.00.
Looks like the $250 area turned into support during the last couple of trading sessions.
On the daily chart today's candle seemed to form a shooting star but in the end it turned out to be a DOJI.
Looking forward to next week.
Please always be careful with your investment and happy trading.
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ev-enthusiast
Active Member
chickensevil
Active Member
Oh thank you for finally fixing that messed up post, now that I am like 4 posts from it finally pushing to the next page for me, Lol. Am I really the only one who has it set to 100 per page?
In any case, I am rather shocked how much of a steep straight line up we have had since the last major low point. How long will this keep up? Seems like 250 has really been that stopping point so far even though according to everything I have seen that should have been 260 right?
So if 250 is to be our battle ground does that bode better or worse for taking on 260?
In any case, I am rather shocked how much of a steep straight line up we have had since the last major low point. How long will this keep up? Seems like 250 has really been that stopping point so far even though according to everything I have seen that should have been 260 right?
So if 250 is to be our battle ground does that bode better or worse for taking on 260?
doggusfluffy
Closed
Not only that, but I believe no analysts still have even re-evaluated their PT by including an auto + stationary model yet. Does that mean it was "baked in" already or hasn't been accounted for yet? It seems like the most surreal non-reaction with even some open skepticism to a very compelling price point.
Shrug.
chickensevil
Active Member
Even if the analysts haven't baked it in, the Market is clearly reacting. The price hasn't had this steep of a climb in a while.
Let's see here:
April 26 - June 28, 2013: 51.20 - 107.36
June 28 - Aug 30, 2013: 107.36 - 169.00
Jul 26 - Sep 27, 2013: 129.39 - 190.90
Dec 27, 2013 - Feb 28, 2014: 151.12 - 244.81
Jul 7 - Sep 4, 2014: 222.66 - 286.04
Those are the biggest rises in a 2 month period I could quickly identify.
The differences in price looks like this:56.16, 61.64, 61.51, 93.69, 63.38
That is an average rise of 67.27, although I would consider that 93$ rise more of an outlier because we had super awesome amazing fantastic news no one was expecting that caused that rise. The first three data points were all over the first major rise from the 30s and the most movement we had in 2 months was about 60$ so I would guess that is easier to ride.
So what does it look like right now?
If the bottom was Mar 27 @ 185 and the top is May 28@ 251.45 that is, 66.45 difference.
Point being, the market is clearly reacting to the various news we have had over the past 2 months. The real question is... can it continue? If we are back "in the glory days" of 2013, we had from April 26 to Sep 27 to run up to the top... or 5 good months of a straight climb (which I believe was also the longest run up period of the stocks history). If we see a repeat of that, we could see the price climb another ~90$!!! Unless the Model X actually shows itself before Aug, I think we will see a pull back and/or flattening out of the price.
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