TSLA Technical Analysis

[phantasms]

I think I have a problem. I just looked at this and wondered which way it’s going to break out.

 

[Featsbeyond50]

The Wedge (or pennant) pattern has proven highly lucrative for us in the past. That within an uptrend though. The last month and a half has given us a new wedge but this time it's in a bear market. My hunch is we will have a break to the downside within the next couple of months.

 

[Fairchild]

Will break down to 500 support level

 

[Featsbeyond50]

Will break down to 500 support level

@bkp_duke I previously decided I thought 575 is about as low as I could see it going. Staring at the tea, I mean the chart today, I concluded a capitulation event could take us down to 450. So, I agree with Scott.

 

[OrthoSurg]

Are we having a breakout to the upside?

 

[Featsbeyond50]

Are we having a breakout to the upside?

It's a good start. Broke the 50 day and we have a higher high than the last. We need to best the high in early June in order to bust out of the wedge we're currently in. The biggie in my opinion is to get past the 200 day.

 

[Fairchild]

Minor bump appears related to Musk pulling out of the Twitter deal. Not sure we still have seen the bottom.

LT Gain is on the horizon though and we are moving closer. History is on our side. Hang on!
Data shows the S&P 500 has increased 15% on average in the seven times stocks have tanked 20% or more from a high dating back to 1957.

 

[MABMAB]

I have some general agreement with this guy. Not sure how long it will be on, perhaps need to scan preview to find his image, then refine search.
Bond market locked up?
Another move down expected.
Lining up for October move?
New Leader is going to be like a basketball spring up because it has been held under water for 9 months.

 

[MABMAB]

"WS darling"

 

[MABMAB]

I have a few issues with an IBD/Canslim approach, but I wholly agree with their top down approach.

The market remains guilty until proven innocent.

 

[MABMAB]

On pace for a nice volume day and potentially a higher close. June 2nd high just taken out. I'd expect some mixed trading for a while but have some additional hope that recent bottom is in for this company. Bigger picture things in the market might impact. I'm enjoying following some classic IBDers and technicians, think it is worthwhile as they will ALL pile in such a company with such numbers. I still expect fall is better climate than now but cant know all with the market.

 

[Curt Renz]

Today Craig Johnson of Piper Sandler shows TSLA(+), meaning in his technical analysis it’s a positive. That’s the same notation I found in his 1/28/13 newsletter, which inspired me to start purchasing TSLA shares.

 

[Curt Renz]

TSLA moved above its 50-day simple moving average two weeks ago, and today it closed just under its 200-day SMA. A move above the latter next week would be technically encouraging.

 

[Curt Renz]

On Monday and Tuesday, TSLA moved above its 200-day SMA intraday, but did not close above. Today it closed above, a welcome technical event.

 

[Curt Renz]

Today TSLA has moved nicely above its 200-day SMA (simple moving average) of $908.68. That's encouraging. Even more promising would be a surpassing of the August high of $940.82 set on the 4th. That could happen this afternoon. Stay tuned.

 

[Curt Renz]

Despite falling for three sessions, TSLA continues to hold above its 200-day SMA (simple moving average). That remains encouraging.

 

[OrthoSurg]

Despite falling for three sessions, TSLA continues to hold above its 200-day SMA (simple moving average). That remains encouraging.

Onething I don’t understand is AAPL being closing with higher high and higher lows constantly while TSLA being sideway for the last 3 sessions. And TSLA upcoming stock split is dangerously close.

 

[Boomer19]

Onething I don’t understand is AAPL being closing with higher high and higher lows constantly while TSLA being sideway for the last 3 sessions. And TSLA upcoming stock split is dangerously close.

jockeying for position anyone?

 

[MABMAB]

Despite falling for three sessions, TSLA continues to hold above its 200-day SMA (simple moving average). That remains encouraging.

I would think that a follower of TA would point out the "falling" for three sessions was on lower volume each day. As if there is now a 4 day triangle/wedge/pennant, you know, a pattern.

 

[Curt Renz]

Despite falling for three sessions, TSLA continues to hold above its 200-day SMA (simple moving average). That remains encouraging.

Whoops, currently TSLA's under its 200-day SMA. But it's down in line with the QQQ's and on continued light trading volume. It would be helpful if that SMA is surpassed again next week.