With TSLA, backtesting the overbought and oversold signals of the RSI (especially the 80/20) shows it's been pretty reliable in providing buy and sell signals over a longish timeframe.
Trading using the RSI alone is generally thought of as being a bad strategy, but with a couple of confluent signals it could be pretty useful here.
Some stocks seem to favour the...
Tesla stock is currently under its 200MA on the weekly chart, trend line keeps the stock in a uptrend. 2 Yellow zones for targets as we go towards 2019. 20 & 50MA are acting as resistance and stock is currently trading in-between 20 & 50MA and 200MA.
As the price is dipping down to test historic resistance levels, and RSI is very low, I expect a quick bullish reaction and the previous gap to be filled in the next day or two.
Like this idea if you agree with me.
So here we have TESLA stock, as you can see from our support line it has only hit this 3 times in a matter of month's which indicates a very high possibility that this will go long next week, if this breaks our support line i would feel this is going to be a shock to TESLA stocks and could go down further.
If anyone has any ideas please comment below.
Tesla share price is still trading into a bearish consolidation pattern. The neckline of the bull trend, now an important resistance, has rejected again the bulls. This suggests that the scenario previously depicted still stands. A current entry short at around $345 with a stop in $364 seems like a good risk-reward strategy.
Good luck fellow traders
Tesla share price has been trading into a bearish consolidation pattern for the last few weeks. The neckline of the bull trend, now an important resistance has prevented the price several times to continue the bull run. It is quite likely that the share price may begin quite soon an important bearish move. An entry short at around $340 with a stop in $364 seem...
Tesla Motors Co Chief Executive Elon Musk said on Sunday the automaker was updating its semi-autonomous driving system Autopilot with new limits on hands-off driving and other improvements that likely would have prevented a fatality in May.
Sentiment is positive. End of last week (daily chart) ended on S2 (support). Tesla breaks $200 (since thursday).