TSLA Technical Analysis

[rexmakesbeats]

Technical analysis, price predictions and news on Tesla stock for week ending 08/07/2021. Tesla finally makes a push above $700 and breaks out of consolidation. But, it is not out of the woods yet, as it seems to be consolidating at this level. It will need to hold above this $700 support for it to make a run to the next key resistance level at $775. To the downside, what previously acted resistance, is now acting as support at the $700 level. However, if it falls below this level, I can see Tesla dropping to support at $660.

Tesla news this week includes:

• Tesla owns close to 42,069 Bitcoins
• Biden campaigns for 40% of US automakers sales to be electric
• Demand for Made In China Standard Range Plus Model 3/Y is gigantic according to sources
• Tesla Canada Long Range Model Y now showing deliveries pushed further into December
• Tesla Cybertruck Beta line to be setup at Fremont prior to full production at Austin
• Tesla opening Supercharger network will enable access to new $7.5 billion EV funding in US

 

[Curt Renz]

Following a stumble on Friday, today was TSLA’s eighth winning day out of nine. It remains well above its 200-day SMA (simple moving average). Its 50-day SMA may be developing enough steam to eventually pass above its 200-day and form a bullish Golden Cross. For that to happen soon, TSLA would have to spike above the narrow range its been in this month.

 

[Curt Renz]

During July 28 to August 2, TSLA popped upward well above its 200-day SMA (simple moving average) amid increased trading volume. However, so far in this annual vacation month, the share price has been channeled into a narrowing pennant as volume withered to a pathetically thin level today. The usual resolution of such a pennant is a resumption of the previous trend (in this case upward). Perhaps some news is needed to give it a kick.

 

[Curt Renz]

Craig Johnson of Piper Sandler is the technical analyst who first alerted me to TSLA resulting in my first share purchases in early 2013. Below is what he wrote this morning:

Tesla Inc (TSLA - $722.25); Shares have broken out from a multi-month descending triangle; back above the 10-/30-week WMAs; RS has rebounded back into positive territory and is confirming the breakout; add to positions, the next levels of resistance set up near $762, $794, and $883 (‘21 highs).

 

[rexmakesbeats]

Technical analysis, price predictions and news on Tesla stock for week ending 08/14/2021. Tesla trades sideways all week. The good news is it is holding above $700 support. The longer it proves it can hold above this level, the more likely it will run higher to the next key resistance level at $785. To the downside, if that $700 support fails to hold, we can see Tesla drop to the next key support level of the 50 and 200DMA at around $662

Tesla news this week includes:

• Jeffries upgrades Tesla from Hold to Buy with $850 price target
• Tesla China R&D Center to go online soon
• Tesla China sales drop in July
• Tesla Giga Shanghai’s new production rate is 450,000/year
• Tesla files to produce 5 more versions of Model Y at Giga Shanghai
• Tesla China hires Bai Chaoyang, ‘responsible for new media dissemination’
• Model 3 SR+ now sold out for rest of 2021, Model Y LR soon to follow
• Tesla Canada Model S/X deliveries pushed back to March-April 2022; Model 3 SR+ pushed to January 2022
• Giga Berlin expected to have at least one giga press up and running by October
• Tesla uses Blockchain technology to ensure sustainably sourced raw materials for batteries

 

[Curt Renz]

During today’s trading session, TSLA dipped below both its 50 & 200-day SMAs (simple moving averages). Then it closed above both of them. If it closes above them again tomorrow, that should bolster their significance as support levels.

 

[Curt Renz]

During today’s trading session, TSLA dipped below both its 50 & 200-day SMAs (simple moving averages). Then it closed above both of them. If it closes above them again tomorrow, that should bolster their significance as support levels.

And it did spring up nicely today from those SMAs, despite poor showings for the macro indices. Tesla AI Day comes after tomorrow's close. Could be interesting.

 

[rexmakesbeats]

Technical analysis, price predictions and news on Tesla stock for week ending 08/21/2021. Tesla retested the key uptrend line this week and held above it successfully, thus keeping the uptrend intact. It will run into key resistance at $700 again. A breakout above that, and it will see some near term resistance at around $750. If it manages to breakout above that, it will likely retest key resistance at around $790. To the downside, we have support at the 50 and 200DMA which currently lie at $666-669. The next level of support below that comes in at $655.

Tesla news this week includes:

• Tesla preparing massive expansion of Supercharger network before opening it up to other EVs
• Morgan Stanley’s Adam Jonas: ‘Batteries are the new oil’ mantra
• Tesla rides the EV registration rocket as Americans buy more than ever
• Tesla #6 in market share for first half sales in California
• Tesla humanoid robot prototype to be ready by next year
• Tesla plotting battery-storage entry into Japan’s power market

 

[Curt Renz]

Craig Johnson of Piper Sandler is the technical analyst who first alerted me to TSLA resulting in my first share purchases in early 2013. Below is what he wrote this morning:

Tesla Inc (TSLA - $722.25); Shares have broken out from a multi-month descending triangle; back above the 10-/30-week WMAs; RS has rebounded back into positive territory and is confirming the breakout; add to positions, the next levels of resistance set up near $762, $794, and $883 (‘21 highs).

And this is what Craig wrote before the market opening this morning:

Tesla Inc (TSLA - $680.26); Shares have broken out from a multi-month descending triangle; recent bullish crossover between the 10-/30-week WMAs; use the current pullback as a buying opportunity.

 

[jeewee3000]

I've posted this in the "The Wheel/options" thread, but since it is relevant I took the liberty of reposting here:

++++++

This week, I took another look at the last Golden Cross (i.e. the 50 DMA rising above the 200 DMA since that is a significant technical sign for traders to enter into a stock.

Last time it happened was Tuesday November 5th 2019. I documented the most relevant data on the graph below:

According to my (rough) calculations, the Golden Cross will occur tomorrow, Friday August 27th. Given it's the end of the week, volume is low, I expect no sudden increase in buying interest, even with the Cross. Next week though, I wouldn't be so confident. The weekend will allow traders to notice the Cross, write some sugar about it on SeekingBeta and with the help of some WallStreetBets cellar-dwellers, we could see a decent pop on Monday taking us back to (and maybe over??) the current resistance at $730.

 

[bxr140]

According to my (rough) calculations, the Golden Cross will occur tomorrow, Friday August 27th. Given it's the end of the week, volume is low, I expect no sudden increase in buying interest, even with the Cross.

Monitoring classic indicators is always a good idea. Considering past performance is also a good idea.

Note that:
1) This golden cross is very acute--200 and 50MA have been gradually converging over the past month+
2) The death cross was only ~7 weeks ago and it resulted in a a) quick 10% pop (and down and back up again a few times), b) pretty much setting resistance since that time, and c) really no longer timeframe impact in the uptrend we've been in since ~mid may when we double bottomed in the mid 500's

 

[rexmakesbeats]

Technical analysis, price predictions and news on Tesla stock for week ending 08/28/2021. Tesla seems to be consolidating and forming a floor of support at just above the $700 level. Its held support of the 50 and 200DMA, as well as the uptrend line going back to May 19. My presumption is that Tesla will hold above these support levels and run to the next key resistance level at around $750. A break above that, and it will likely run into the major resistance level at around $810. To the downside, as I mentioned, the 50 and 200DMA will act as support at around 676. If it breaks below that level, the next key support comes at around $658

Tesla news this week includes:

• Morgan Stanley’s Adam Jonas: ‘..cannot help but see parallels between Elon Musk..and those of Thomas Edison..’
• Tesla China July Production numbers
• Tesla enters the top 5 of 50 most innovative companies in 2021
• Tesla’s “Autobidder” is scaring Germany’s utility providers
• Public FSD Beta button available in about a month
• Tesla applies to sell electricity to Texas residents

 

[Curt Renz]

TSLA’s 50-day SMA (simple moving average) will almost certainly push above its 200-day SMA on Monday. Such an event is known in technical analysis as a bullish Golden Cross, which could negate the opposite event known as a Death Cross which formed on July 9th. Since the market reaction to the Death Cross was rather muted, that may also be the case with the Golden Cross. We’ll know better next week how traders and algobots might react.

 

[Curt Renz]

TSLA closed at its highest level since April 27th, while its 50-day SMA (simple moving average) formed a Golden Cross as it pushed above its 200-day SMA. Technically quite encouraging.

 

[Curt Renz]

Craig Johnson of Piper Sandler wrote this before the market opening this morning:

Tesla Inc (TSLA - $734.09); Shares have broken out from a multi-month descending triangle; recently confirmed support off the 10-/30-week WMAs; add to positions, the next levels of resistance set up near $763 and $883 (‘21 highs).

 

[rexmakesbeats]

Technical analysis, price predictions and news on Tesla stock for week ending 09/04/2021. Tesla has held above support at $700 as well as maintained trading above the 50 and 200DMA. Resistance levels to watch for is $756, and after that key resistance at $821. Support levels come in at $700. A drop lower would bring it to $684-685. Finally, a break below that would take it as low as $675

Tesla news this week includes:

• Tesla China in talks with another battery supplier in supplying 4680 batteries
• Tesla nears India debut as four models approved
• FSD Public Beta to be released in about a month
• Elon Musk will make sure Tesla Bot is as safe as possible
• Tesla quarterly employee meeting highlights

 

[AquaY]

Technical analysis, price predictions and news on Tesla stock for week ending 09/04/2021. Tesla has held above support at $700 as well as maintained trading above the 50 and 200DMA. Resistance levels to watch for is $756, and after that key resistance at $821. Support levels come in at $700. A drop lower would bring it to $684-685. Finally, a break below that would take it as low as $675

Tesla news this week includes:

• Tesla China in talks with another battery supplier in supplying 4680 batteries
• Tesla nears India debut as four models approved
• FSD Public Beta to be released in about a month
• Elon Musk will make sure Tesla Bot is as safe as possible
• Tesla quarterly employee meeting highlights

I look forward to this post every week.
Thanks

 

[Curt Renz]

Craig Johnson is the chief market technician at Piper Sandler. In early 2013 he recommended Tesla, which inspired me to buy my first shares. In today’s newsletter he has Tesla shares listed among his five most positive actionable ideas, and has it as his first choice among automobile manufactures with a + notation indicating positive technicals. That’s the same manner in which he described Tesla in early 2013.

 

[Curt Renz]

The Dow Jones Industrial Average and the S&P 500 have been down for three straight sessions. Nevertheless, TSLA has been up for three straight. TSLA continues to trend upward in wake of the formation of a Golden Cross on August 30, when its 50-day SMA (simple moving average) pushed above the 200-day SMA. This is can be viewed technically as quite encouraging.

 

[Curt Renz]

The Dow Jones Industrial Average and the S&P 500 have been down for three straight sessions. Nevertheless, TSLA has been up for three straight. TSLA continues to trend upward in wake of the formation of a Golden Cross on August 30, when its 50-day SMA (simple moving average) pushed above the 200-day SMA. This is can be viewed technically as quite encouraging.

Ditto, except the three's have become four's.