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TSLA Technical Analysis
- Thread starter Robert.Boston
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- elon is an ass TSLA
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ev-enthusiast
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The TSLA dive this morning from yesterday's record close was checked just above (by $1.54) the closing price on Tuesday. That suggests a price near $860 may now be a significant support level. 
The TSLA dive this morning from yesterday's record close was checked just above (by $1.54) the closing price on Tuesday. That suggests a price near $860 may now be a significant support level.
Based on recent trends where TSLA has touched or broken above the upper-BB, I would not be surprised by a gap down at open tomorrow followed by a close somewhere above the opening price.
The sharp move to a record high TSLA closing price on Wednesday should have triggered margin calls to short-sellers. If not complied with quickly, they are typically enforced two to five days later. That's usually done during the early hours of regular trading. We might see that beginning tomorrow morning and into next week.
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Yesterday. For reference, look at the action on the daily chart for:
Feb 4-6
Jan 23-27
Jan 14-16
Dec 27-31
Admittedly I haven't gone back to see if there was material information impacting trading on those days (whether macro or TSLA-specific), but the pattern is interesting.
A TSLA chart gap was created between Tuesday's high and Wednesday's low. The gap was momentarily just barely filled today, which led immediately to a sharp rebound. That can be viewed as a good technical sign.
If we decisively breach 942.xx, it’s off to the races....there’s nothing above and the price could run for a while until it finds some new valuation.
Upper BB is right at $963 this morning.
As an aside, you can check the BB at anywhere from 1, 5, 10, 15, 30 and 60 min during the day (it’ll be different from the 1-year BB I’m continually posting) to get a sense of the option trend taking hold during that trading day.
As an aside, you can check the BB at anywhere from 1, 5, 10, 15, 30 and 60 min during the day (it’ll be different from the 1-year BB I’m continually posting) to get a sense of the option trend taking hold during that trading day.
Conversely, $885.xx is a line in the sand on the downside. Need to hold that and so far so good.
The sharp move to a record high TSLA closing price on Wednesday should have triggered margin calls to short-sellers. If not complied with quickly, they are typically enforced two to five days later. That's usually done during the early hours of regular trading. We might see that beginning tomorrow morning and into next week.
Often issued at 10:30 am EST, correct?
Technical analyst Tim Ord was a regular guest of mine on my old TV show. Below are excerpts from what he wrote shortly after the close today regarding his latest opinion change for the S&P 500 ETF (SPX).
For monitoring purposes: Long SPX on 2/24/20 at 3225.90.
Market is showing panic in the Down Volume/Total volume indicator...
When this condition has been reached the market at least stalls the decline. There should be a short term low forming near term...
Market bottoms on panic. The Trin closed today at 1.53 and the ticks closed at -261 and both are in panic levels....
RSI readings for the VIX above 75 is another form of panic (VIX up to Fast)...
In all case the decline stalled and at least bounced short term. SPX (SPY) could attempt to fill today’s down gap in the coming days. Different forms of panic are present on today’s decline suggesting a bottom is near.
All the Best,
Tim Ord
Ord Oracle - Home
For monitoring purposes: Long SPX on 2/24/20 at 3225.90.
Market is showing panic in the Down Volume/Total volume indicator...
When this condition has been reached the market at least stalls the decline. There should be a short term low forming near term...
Market bottoms on panic. The Trin closed today at 1.53 and the ticks closed at -261 and both are in panic levels....
RSI readings for the VIX above 75 is another form of panic (VIX up to Fast)...
In all case the decline stalled and at least bounced short term. SPX (SPY) could attempt to fill today’s down gap in the coming days. Different forms of panic are present on today’s decline suggesting a bottom is near.
All the Best,
Tim Ord
Ord Oracle - Home
The above was in regard to Ord's short-term outlook for the SPX. Today after the close he published his new long-term outlook for the SPX
For monitoring purposes: Longer term buy SPX on 2/26/20 at 3116.52.
All the best,
Tim Ord
Ord Oracle - Home
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ev-enthusiast
Active Member
Tim Ord - 10 minutes ago:
SPX may be near an important bottom. Below is the SPX/10 year bond ratio. When the RSI of this ratio reached below 20 the market was forming an intermediate term low. Current RSI 16.61, SPX has been down six days in a row (todays trading not over yet and if down would be 7). The last 7 years there is only one instanced when market was down 7 days in a row which was right before 2016 election (Oct 25 to Nov. 5) which was a bottom. We purchased SPY call option one month out and the last time we bought SPY calls was December 23, 2018 (options not recommended as a total loss is possible). Have numerous indicators at extremes, this time could be different, but don't think so.
All the best,
Tim Ord
Ord Oracle - Home
SPX may be near an important bottom. Below is the SPX/10 year bond ratio. When the RSI of this ratio reached below 20 the market was forming an intermediate term low. Current RSI 16.61, SPX has been down six days in a row (todays trading not over yet and if down would be 7). The last 7 years there is only one instanced when market was down 7 days in a row which was right before 2016 election (Oct 25 to Nov. 5) which was a bottom. We purchased SPY call option one month out and the last time we bought SPY calls was December 23, 2018 (options not recommended as a total loss is possible). Have numerous indicators at extremes, this time could be different, but don't think so.
All the best,
Tim Ord
Ord Oracle - Home
Today TSLA's 5-day plunge was halted at $611.52. This was just above its 50-day Simple Moving Average of $607.48. It was also slightly above a common Fibonacci Retracement to 61.8034% of the all-time intraday high of $968.99 set on February 4. This would be $598.87. The bounce above these levels during the rest of the session and into after-hours trading is highly encouraging from a technical perspective.
I have to admit, one of my buys was set at $590...and I’m glad it didn’t hit.
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