TSLA Technical Analysis

[Curt Renz]

Craig Johnson of Piper Sandler - this morning:
• TSLA—Shares have reversed a declining price channel/surpassed resistance near $218• Recent bullish crossover between the 10-/30-week WMAs.• RS has climbed into positive territory and notable TechniGrade ranking.• Add to positions on pullbacks toward the rising 10-week MA.

 

[Curt Renz]

Zacks - today:

 

[Curt Renz]

Craig Johnson - Piper Sandler - this morning:
• TSLA—Shares have confirmed support off a prior breakout level.• Back above the 10-/30-week WMAs.• RS has inflected higher off the midline and impressive TechniGrade ranking.• Add to positions, a retest of the July highs near $299 appears likely

 

[DarkandStormy]

Tesla's 50-day SMA has dropped below its 20-day SMA.

Generally this is not a good sign technically.

 

[winfield100]

Tesla's 50-day SMA has dropped below its 20-day SMA.

Generally this is not a good sign technically.

here is a graph, back to 24/4/2023
looks like happened a few times

 

[Gwgan]

here is a graph, back to 24/4/2023
looks like happened a few times

View attachment 976342

50 day orange
20 day green
TSLA blue
When a lagging indicator, 20 above 50 after a rise has continued to the upside but in Jan 22 the cross happened after a downturn, could be similar to now.

 

[Featsbeyond50]

For what it's worth, the TSLA chart has formed a wedge pattern. The way I draw the lines, it needs a resolution by December.

 

[Curt Renz]

Craig Johnson - Piper Sandler - this morning:
TSLA—Indicated lower this AM: Shares appears poised to retest support from a prior breakout level. • RS has inflected higher off the midline and impressive TechniGrade ranking. • Add to positions once support has been confirmed.

 

[Curt Renz]

Craig Johnson of Piper Sandler - today:
• TSLA—Shares are approaching the neckline of an inverted head and shoulders formation.• Back above the 10-/30-week WMAs.• RS has rebounded back into positive territory.• Add to positions on a breakout above the neckline.

 

[Musskiah]

Jan 19 Quad Witching expiry now at 2,883,581 options contracts. There is massive money at stake. Jan 19 Max Pain now at $210 and dropping; expect the SP to stay well below the 200 day MA. Jan 26 Max Pain is $240, so a swift recovery back above the 200 day MA around the earnings call is probable.

TA: On the daily, weekly, and monthly timeframes the 200, 50, and 100 DMA are incredibly tight within about 10% of eachother. This type of correlation across all time-frames is extremely unusual for TSLA. This puts the mean implied volatility under 0.5 for all timeframes (10,20,30,60,90,120,150D). The last time we saw this was Oct 2021, and prior to that Oct 2019. Both preceeded massive runs. Jus' sayin'...

 

[winfield100]

possibly going into this, accumulation/distribution line is _usually_ fairly flat & stable but has gotten wild the last 4 weeks, bouncing up & down
(based on volume & prices & ups & downs)
I have _no_ idea what it means except something has changed

 

[Musskiah]

Craig Johnson of Piper Sandler - today:
• TSLA—Shares are approaching the neckline of an inverted head and shoulders formation.• Back above the 10-/30-week WMAs.• RS has rebounded back into positive territory.• Add to positions on a breakout above the neckline.

I have a question I need clarity: When the SP recovers say back to 240 (MaxPain) the final week of Jan, and begins to approach the neckline again would the pattern now still valid if the right inverted shoulder (minimum) is now lower than the left inverted shoulder? Or does the right need to be a higher value than the left for it to be an inverted HS? Thank you anyone who can help

 

[Musskiah]

From Selling TSLA Options Discussion...

the last 11 times RSI was ~30, TSLA bounced

View attachment 1008514

since 2020, the maximum consecutive red weeks is 4, even during EM's selling

4 red weeks = 3x
3 red weeks = 12x

View attachment 1008508

 

[Musskiah]

Whenever the 50DMA (green) settles between the 100 and 200, it is indication the spring has coiled, and we get a large move. It's coming!

 

[winfield100]

Whenever the 50DMA (green) settles between the 100 and 200, it is indication the spring has coiled, and we get a large move. It's coming! View attachment 1010944

for those of us whom are red/green color blind, I see a _blue_ line and 2 red/green identical color lines
could you make one of those 2 a different color please

 

[Musskiah]

for those of us whom are red/green color blind, I see a _blue_ line and 2 red/green identical color lines
could you make one of those 2 a different color please

Humblest apologies! Thank you for the awareness. I'll keep this in mind in the future. The 50DMA (blue) still sits in between the 100DMA (purple) and the 200DMA(orange). The moving averages continue to converge on all timeframes (daily, weekly, monthly). Daily timeframe shown below. The RSI is now incredibly oversold on the daily and weekly (not shown). If I was a betting man (and I am) the move that's coming quite soon would be...UP.