TSLA Technical Analysis

[rexmakesbeats]

Technical analysis on Tesla stock for week ending 11/7/2020. Tesla made its way back into the consolidation range between $405 and $450. It is now trying to make its way back into the uptrend channel that goes back to June. We also got a bullish cross on the MACD again which is bullish going into next week, however, with the market uncertainty surrounding a potential Joe Biden presidency it is important to remain vigilant and wary of a potential selloff. Bull case price target is $440 and above, Bear case price target is $414, if that level does not hold next support is at $378.

Tesla news this week includes:
-Honda partners with Tesla in pooling sales in Europe to avoid emission fines
-Updated Cybertruck design to be unveiled in a month or so
-Tesla is getting new battery cells from Panasonic with faster charging capacity

 

[MABMAB]

Volume looks much better today, certainly price action does.
A virtual mentor I used to have says "Only Price Pays"

 

[MABMAB]

Wow!
Days like these I recall from failed moves come fast moves.
Momo players getting crushed, perhaps they will leave TSLA also.
I am not short term or momo, stick to the plan.

 

[bxr140]

Macros are curious. ES is right at the September high and YM is above the pre-covid high (which was also the September high). Both of course have huge wicks on Monday.

 

[rexmakesbeats]

Technical analysis on Tesla stock for week ending 11/14/2020. Tesla traded within a tight range this week forming a wedge between the 50DMA and uptrend channel. It will break out or break to the downside in the coming days. Tesla has been consolidating between $405 and $450 for the past few months now and a big move is coming! Bull case price target for next week is a breakout of the wedge at $418 then $450 resistance, then $460 and above to make its way back into uptrend channel. Bear case price target is $405, then $385, and if it breaks that level $360.

Tesla news this week includes:
-Tesla may face delays at Gigafactory Berlin over lack of permits
-Tesla is fighting a $14 million fine in Germany over its battery end-of-life policy
-Tesla is No. 1 most attractive company for engineering students

 

[MABMAB]

Minervini Private Access

 

[Cherry Wine]

Minervini Private Access

View attachment 608992

Am I correct in thinking that we are on contraction #5 using this analysis? Or #4?

 

[vikings123]

Minervini Private Access

View attachment 608992

I know this Minevini guy is highly respected in the trading community and recently started a TSLA position. So what exactly does this chart mean?

 

[Sudre]

Alright Technical guys and girls..... this is where y'all jump in with some technical stuff...

I have been expecting this breakout. I guess we can start with deciding which pattern this is.
I am thinking a Pennant.

 

[ev-enthusiast]

Alright Technical guys and girls..... this is where y'all jump in with some technical stuff... View attachment 609170 View attachment 609171
I have been expecting this breakout. I guess we can start with deciding which pattern this is.
I am thinking a Pennant.

Thanks for your thoughts.
Do you expect some momentum traders to hop on the train at about $460?

 

[Sudre]

Thanks for your thoughts.
Do you expect some momentum traders to hop on the train at about $460?

We trade less than 20M shares for days on end and THEY have a hard time keeping the SP around $410. I do not expect a bunch of MoMO traders. Actually I think the last (hopefully) of them just jumped out after being stuck in their trade for more than a week (they prefer days... hours). If 'nothing' volume maintains the stock price then any increased volume will either require naked shorting to hold the SP down or a lot of sellers. Who is selling to the SP500? This SHOULD be a natural slow rise more than a spike unless this whole SHORTS thing is actually news. That's why I look at this more as a Pennant..... altho the consolidation period was more than 3 weeks.

The High volume, consolidation low volume, then high volume is what I am looking at. The price movement can not be down. Even tho there is no significant news from Tesla, a large amount of new buyers means the share price must rise. Supply and demand. How much is the question.
A Bullish breakout would be a sharp rise. That happens if the MOMOs jump in which they may avoid this.

 

[Right_Said_Fred]

Looks like we are forming a bullish flag in the hourly candle stick chart. Such a flag usually marks 50% of an upward move. The first leg was 102 points (406 to 508). If we break out (which right now is a decisive move above 502-503), the second leg should take us from 492 to 594.

 

[jeewee3000]

Looks like we are forming a bullish flag in the hourly candle stick chart. Such a flag usually marks 50% of an upward move. The first leg was 102 points (406 to 508). If we break out (which right now is a decisive move above 502-503), the second leg should take us from 492 to 594.

Was about to post the same observation.

 

[rexmakesbeats]

Technical analysis on Tesla stock for week ending 11/21/2020. Tesla broke out above the consolidation zone above $450 and made its way back into the uptrend channel. It retested 52 week high and made new all time highs before pulling back. Bull case, if Tesla can break above $502, it’ll make its way toward $527 then $538. Bear case, if $502 resistance holds, it’ll fall and test $475 level. If that level breaks, it can retest the consolidation breakout point at $450.

Tesla news this week includes:
-UK set to ban sale of new petrol (ICE) and diesel cars from 2030
-What a Joe Biden White House could mean for Tesla
-Elon Musk says ‘most likely’ has a moderate case of COVID-19
-Tesla Cybertruck production edges closer as Giga Texas reportedly shifts to 24/7 construction
-Tesla stock jumps on carmaker’s addition to the S&P 500 index
-Morgan Stanley analyst Adam Jonas upgrades Tesla to overweight for the first time in over three years

 

[MABMAB]

I'd prefer volume were growing with these moves up.
I've found volume tougher to follow since the split.
Only price pays though.

 

[FS_FRA]

What do you make of the low volume? In my mind this can't yet be institutionals at these levels? 30MM traded today so far, average 53MM over previous 90d.

 

[Curt Renz]

Craig Johnson is a managing director and technical strategist at Piper Sandler (formerly Piper Jaffray). He was a regular guest of mine on my old TV show, and still sends me his newsletters. In early 2013 he recommended TSLA, which led to my first purchase at $38 ($7.60 post-split).

Below is what Craig wrote this morning:

Tesla Inc (TSLA - $521.85); Shares have broken out from a symmetrical triangle formation/surpassed resistance from the August ‘20 highs (near $500); above the rising 10-/30-week WMAs; RS and volume are confirming the breakout; impressive TechniGrade ranking; add to positions, as we suspect more upside lies ahead.

 

[MABMAB]

I do not know where this price and volume will finish out the day, but if anywhere near current price, the volume speaks VOLUMES about the underlying need for shares. It is already 3x last years black friday volume.

 

[Right_Said_Fred]

Looks like we are forming a bullish flag in the hourly candle stick chart. Such a flag usually marks 50% of an upward move. The first leg was 102 points (406 to 508). If we break out (which right now is a decisive move above 502-503), the second leg should take us from 492 to 594.

The goal of the bullish flag I described a week ago has been reached (with a few points of overshooting). I hope we are in the middle of forming another bullish flag (top 598, bottom 582). If that is true and we break out to the upside next week, the next goal would become 780

Bring it on!

 

[rexmakesbeats]

Technical analysis on Tesla stock for week ending 11/28/2020. Tesla breaks out and sets new all time highs! If the bullish momentum continues, the next resistance level falls at around $625. If Tesla pulls back, the potential areas of support fall at the channels it broke out of at around $568, and $548.

Tesla news this week includes:
-Tesla gets $1,000 bull-case price target from Wedbush’s Dan Ives on China, Europe outlook
-Elon Musk has overtaken Bill Gates to become the world’s second richest person