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TSLA Technical Analysis
- Thread starter Robert.Boston
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bkp_duke
Well-Known Member
Technical analysis on Tesla stock for week ending 01/09/2021. The new all time high streak continues as Tesla closed the trading week at new highs! If Tesla continues to go parabolic next week, the next potential resistance level is around $945, but first it must hold above $880. If Tesla pulls back and consolidates, the key support levels to look out for are first $785, and if it breaks below that level it will head to $740.
Tesla news this week includes:
Tesla news this week includes:
- Tesla reports 499,550 vehicle deliveries for 2020, slightly missing target
- Elon Musk is now the richest person in the world, passing Jeff Bezos
- Billionaire Investor, Chamath Palihapitiya says Tesla’s stock could triple from current levels, making Elon Musk the first trillionaire
What I see there is another wedge pattern. Our last wedge pattern was a giant (2 month +) pattern that worked out quite nicely for us.
Technical analysis on Tesla stock for week ending 01/16/2021. Tesla formed a small wedge this week and ultimately broke to the downside, before finding support at around $819. The next significant support level is at around $760 if that $819 level does not hold. If it continues downward, the next support lies at around $720. However, if $819 support holds, the uptrend could remain intact and Tesla would have to breakout of the trend of the series of lower highs at around $850. If it could recapture this $850 level, then all time highs are not out of the question!
Tesla news this week includes:
Tesla news this week includes:
- Bank of America: Tesla will climb 8% to street-high price target of $900 as stock rally boosts fundraising
- Dan Ives: Tesla could be a $2 trillion company in just ‘1 or 2 years’
Sudre
Active Member
The MODs frown upon talking politics.... think angry mob with guns and what is happening next week.... I say very unlikely but it is one reason. or to simplify the answer anything extreme in the Macro area. Yes it would be a short lived drop.
I am not agreeing or disagree with rexmakesbeats prediction either. He might be thinking we fill a gap on the monthly chart to an even number.
Admittedly, I only know enough about technical analysis to be dangerous.
I also expect a profits beat, mostly due to FSD, but remember, that's a Fundamental expectation. A Technical purist doesn't consider fundamentals. Just charts.
Hey
Put a stop loss on half if you don't want to be at risk for losing too much. I have a stop loss at $800 for half.
Not sure I will want to eat the taxes on that pile of gold though.
This is the technical analysis thread. The point is that if underlying moves up or, in this hypothetical, down, @rexmakesbeats believes $760 offers support.
The cause of the movement can be a wide variety of sociopolitical events, as it typically is. The magnitude of the movement can often be estimated by technical price points.
Everyone reads the tea leaves differently.
I like whole numbers for individual stocks, especially for TSLA. TSLA recently busted through 800 and has so far held that level. In December it ran up to 700 and stopped on a dime. Took another run and busted through. After breaking through, 700 (695) becomes a support level.
In November the share price hit 600, broke through then tested that level several times before clearing it. The share price worked harder for 500. Hit 500 in late august, pulled back and didn't challenge it again until November when it busted thru.
The price hugged 400 for a few months...
This is just how I look at it. With other stocks I use trend channels and look for breakouts. I don't use highly specific numbers like 320.42. I think there's too much daily and weekly vibrational movement for that.
Going forward, I see 700 and 500 and the key support levels and I wouldn't break a sweat if the price dropped to 525. That could easily happen and I don't think it would take much bad news to make that happen. On the upside, I see 900 as the next level we need to break through. This is just my tea leaves.
That's exactly right, and when it comes to technical analysis its really whatever works for the trader. It depends massively on a trader's timeframe and preferred indicators, whether one uses extended hours prices or not, etc. For instance, I wouldn't use any of the numbers @MXWing put out there, but that doesn't mean those numbers are wrong--they just don't fit with the way I read charts. Same with @rexmakesbeats.
FWIW, I find it most useful to contemplate support and resistance as price regions/zones. I've found that calculating down to the cent--especially on a big underlying stonks like TSLA--is heavy on trees and light on forest.
Technical analysis on Tesla stock for week ending 01/23/2021. Tesla continues to trade sideways, with the uptrend still intact. Tesla closed the week just above the uptrend channel which lies at around $840. If that support at $840 does not hold, Tesla could fall to the next uptrend channel support at $765. The next major support would come at around $745-$750. Bull case price target if Tesla could hold above $840 support and breakout to the upside out of the wedge, resistance would come at around $900.
Tesla news this week includes:
Tesla news this week includes:
- Oppenheimer Analyst, Colin Rusch doubles stock price target to Street high $1,036
Let me clarify, these are only price predictions based on support/resistance levels in EACH case given whether Tesla stock moves to the upside or downside.
Tim Ord was a regular guest of mine on my old TV show. Below is what he wrote shortly after the market close today regarding his latest opinion changes for the S&P 500 (SPX).
For monitoring purposes; Long SPX on close 1/29/21
All the Best,
Tim Ord
Ord Oracle - Home
For monitoring purposes; Long SPX on close 1/29/21
All the Best,
Tim Ord
Ord Oracle - Home
Technical analysis on Tesla stock for week ending 01/30/2021. After 4Q 2020 earnings miss on the bottom line, Tesla sells off for the week testing major support level at $780. This $780 level is critical and will tell if Tesla can continue to stay in an uptrend. If the $780 level doesn’t hold the next support level comes around $725, then after that will be $690. Now if Tesla can hold above $780 support, it will potentially retest resistance at $880.
Tesla news this week includes:
Tesla news this week includes:
- Nancy Pelosi has plowed up to $1 million into bullish bets on Tesla stock
- Tesla misses on earnings, reports another profitable quarter
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