TSLA Technical Analysis

[dmunjal]

Investor's Business Daily: Tesla has formed a cup & handle. The pivot is 357.68. Breaking through the pivot on strong volume would be a buy signal based on the O'Neil methodology.

Tesla Stock, PayPal Stock Lead Top Stocks Near Buy Zones | Investor's Business Daily

I've got an order for Dec 400s to take advantage of these technicals and a positive result of the Trump/Xi meeting on trade.

Could be good for a year end rally.

 

[Artful Dodger]

"Sokath, his eyes open."

Wikipee says: "Piercing Line Consists of a black candlestick followed by a white candlestick that opens lower than the low of preceding but closes more than halfway into black body candlestick. It is considered as reversal signal when it appears at bottom:"

​

Technical analysis may indicate SP tending back toward mid-point of Bollinger bands (currently about 341.94)

DISCLAIMER: I have no expertise in technical analysis. This is me evaluating the method. NOT AN ADVICE.

CH3ERS!

 

[anthonyj]

I drew a simple chart for you guys. Double bottom within the bull flag means we will have another flag forming, which usually is the same size movement of the first flag. Tesla is showing unusual strength throughout all of the fud and manipulation. $420.69 within the next 3 weeks, with a Dec 2019 PT of $694.20 (somewhat serious)

 

[anthonyj]

Trading the golden cross - does it really work?

Need I say more?

 

[Curt Renz]

Technical analyst Tim Ord was my regular guest on our TV show. This is what he wrote after today's market close regarding the correlation of the S&P 500 to the put Put/Call ratio.

The last two times the 10 day average of the Equity Put/Call reached .74 the market was at major lows; current reading is .74.

Tim Ord
Website: Ord Oracle - Home

 

[anthonyj]

Bull flag imo

 

[avoigt]

 

[nursebee]

More chart monkeys coming to the rescue!

Moving Average Crossover Alert: Tesla, Inc.

Trading the golden cross - does it really work?

 

[dmunjal]

I've got an order for Dec 400s to take advantage of these technicals and a positive result of the Trump/Xi meeting on trade.

Could be good for a year end rally.

Well my calls are up decently. Advice on holding or taking profits? I think we see significant resistance at ATH around 389. Maybe a run up to the mid 380s and then get out? I think we don't pass ATH until after earnings.

 

[Curt Renz]

Technical analyst Tim Ord was my regular guest on our TV show. This is what he wrote after today's market close regarding technical indicators for the S&P 500 ETF (SPY).

3 day trin closed at 1.96 suggests longer term low forming. Equity Put/Call ratio closed yesterday at .85; closes higher within 5 days 87% of time. Todays low did not touch yesterday's low which test may come Monday. SPY has a projection near 299.

All the best,
Tim Ord
Website: Ord Oracle - Home

 

[dmunjal]

Did today qualify as an outside reversal on the Nasdaq? This would be bearish for next week.

 

[anthonyj]

Did today qualify as an outside reversal on the Nasdaq? This would be bearish for next week.

No, because Thursday’s low was $350 and Friday’s low was $357

 

[dmunjal]

No, because Thursday’s low was $350 and Friday’s low was $357

So looks like TSLA escaped an outside reversal but the Nasdaq didn't. More trouble for FANG?

 

[avoigt]

Hm, interesting....

Eric on Twitter

 

[nursebee]

I learned TA from IBD. Looking at the charts on that site shows RS at new high. Bullish. Buyable.

 

[Curt Renz]

Technical analyst Tim Ord was my regular guest on our TV show. This is what he wrote after today's market close regarding technical indicators for the macro market.

Equity Put/Call (CPCE) for 3, 10, 21 day all in bullish levels. CPCE closed yesterday .75 suggest higher in 5 days 88% of time average +1.3%. catalysis for rally could be FOMC Wednesday announcement.

All the best,
Tim Ord
Website: Ord Oracle - Home

 

[Cherry Wine]

Technical analyst Tim Ord was my regular guest on our TV show. This is what he wrote after today's market close regarding technical indicators for the macro market.

Equity Put/Call (CPCE) for 3, 10, 21 day all in bullish levels. CPCE closed yesterday .75 suggest higher in 5 days 88% of time average +1.3%. catalysis for rally could be FOMC Wednesday announcement.

All the best,
Tim Ord
Website: Ord Oracle - Home

What could a positive catalyst from the FOMC be? I would be shocked if they don't announce a rate increase. Otherwise, is it just more of the same dovish reassurance that the market is seeking?

 

[dmunjal]

What could a positive catalyst from the FOMC be? I would be shocked if they don't announce a rate increase. Otherwise, is it just more of the same dovish reassurance that the market is seeking?

The market would take no rate hike as a sign of trouble. The best outcome would be rate hike followed by plan for no more rate hikes in 2019 unless warranted by inflationary pressures.

 

[nursebee]

Market weak, tough to establish longs.
Any thoughts on TSLA from TA perspective?
I am not ready to give up on the cup with handle stuff yet....
I bet some cup with handle chart monkeys got stopped out with tight stops.
I prefer volatility based stops, recall they might have been hit also...

Will the chart monkeys get back long?

 

[Artful Dodger]

Still think low $330s are in the cards today. Every rally is being sold into.

Well sussed, Anthony. Technical traders would see "Three Black Crows" on the chart:

"It unfolds across three trading sessions, and consists of three long candlesticks that trend downward like a staircase. Each candle should open below the previous day's open, ideally in the middle price range of that previous day. Each candlestick should also close progressively downward to establish a new near-term low. The pattern indicates a strong price reversal from a bull market to a bear market.

"The three black crows help to confirm that a bull market has ended and market sentiment has turned negative."​

Compare that classic tecnical pattern to the last 3 days on yesterday's TSLA chart:

Again (fake or not, contrived or not), Technicians would say the SP is heading toward a test of support at the bottom Bollinger Band (currently 328.43)

Also note on the the chart more support at the 50-day Moving Average: MA(50) 326.09

And of course, news from the Fed today on Interest Rates could float all boats. So again, not an advice, just some additional factors for investors to consider.

Me? As usual, I'm HODLing! (in it for the long term). Ask me again in 8.5 years

Cheers, and GLTA!