News quickly broke out that Tesla (TSLA) has received tentative approval from Beijing to launch its driver assistance software in China. This development occurred during a surprise visit by CEO Elon Musk to Tesla's largest market outside the US. Chinese authorities have agreed to allow Tesla to introduce its Full Self Driving (FSD) solution, leveraging mapping and...
It was reported this morning that Tesla (TSLA) "will lay off more than 10% of its global workforce, an internal memo seen by Reuters on Monday shows, as it grapples with falling sales and an intensifying price war for electric vehicles". The market has so far reacted with strong selling of more than -3% in early trading. But is this really bad news? Not so long...
Tesla (TSLA) held Support 1 (160.50) last Friday, in fact it touched it and rebounded immediately making a technical Double Bottom formation. Yesterday it broke and closed above the 4H MA50 (blue trend-line) for the first time since March 04, providing s serious bullish continuation signal. The most important development however, is that this Double Bottom has...
Tesla has been trading within a Bearish Megaphone pattern since the July 19 2023 High. The recent Low (March 14 2024) came very close to the 152.50 Support, which is the April 27 2023 Low. This shows just how strong the current bearish structure is. Medium-term traders/ investors can expect a sustainable uptrend only when the 1D MA50 (blue trend-line) breaks,...
Last time we looked at Tesla (TSLA) was two weeks ago (February 15, see chart below) when we called for the bottom of the Channel Down pattern on a standard Inverse Head and Shoulders (IH&S) pattern: This time we switch to the longer term 1W time-frame where the stock is making a rounded bottom below the 1W MA200 (orange trend-line) on the 6-month Lower Lows...
Tesla (TSLA) appears to have completed the Right Shoulder of an Inverse Head and Shoulders (IH&S) pattern, which is technically a bullish reversal structure that is formed on market bottoms. We have already talked in our previous analysis about the IH&S formed on the 1D RSI and as you can see by the circle drawing, this is consistent with the all previous Right...
Tesla (TSLA) has been trading within a Channel Down pattern since the July 19 2023 High (which was an emphatic Lower Highs rejection on the ATH Lower Highs trend-line of the November 04 2021 All Time High) and on our last analysis (January 12, see chart below) we called for a tight SL buy but mentioned the importance of taking the loss quickly if the April 27 2023...
Technical Analysis: - Tesla has finished the last structure up in wave I in red and now it's doing a correction in wave II in red - H1 & H4 right side is turning down Technical Information: - Possible short-term buy when wave((w)) in black is completed
Three weeks ago we mentioned the importance of the All Time High (ATH) Lower Highs trend-line on Tesla (TSLA) and how critical it would be for the price to finally break above it for the first time in more than 2 years: The 'Do or die moment' as we called it failed to deliver and the price got emphatically rejected on the Lower Highs for the 5th time. This...
Technical Analysis: - TSLA is doing now wave ((5)) in black to complete wave I in red - H1 and H4 right side is turning down Technical Information: - If you're a position trader you need to wait for wave II in red to be completed in ABC correction
Tesla (TSLA) is extending the rally following the buy signal (see chart below) we gave on November 07 at the bottom of the 1 year Channel Up: The price has had 6 green candles out of a total of 7 and looks to repeat the Bullish Legs of April - July and January - February. What's more important than that, is that Tesla is approaching its 'Do or Die' moment as...
Tesla (TSLA) broke today for the first time and even closed the 1D candle above the Lower Highs that started on the July 19 High. After 4 months of the bearish trend of this Falling Wedge pattern, today's move is a major bullish break-out for the long term as it opens the way for testing the All Time High (ATH) by mid 2024. At the same time, the 1D CCI broke...
It was almost a month ago (November 03) when we called for the start of a rally on Tesla (TSLA) as part of the bullish leg towards the top of the Falling Wedge pattern (see chart below): Today the stock hit our $250 target and immediately got rejected at the top (Lower Highs trend-line) of the Wedge. That was on the 0.786 Fibonacci retracement level of the...
We have presented our short-term view on Tesla (TSLA) 3 weeks ago (see chart below) when we issued a buy signal on the Inverse Head and Shoulders (IH&S) bottom pattern that transitioned into a Channel Up, similar to the Aug 18 - Sep 15 bullish leg, that is very near to hit the $250 target as part of the Lower High formation on the 4-month Channel Down: On the...
Pair : TESLA Index Description : Bearish Channel as an Corrective Pattern in Short Time Frame and Rejection from Lower Trend Line after " ABC " Waves. It has Completed " 1234 " Impulsive Waves and Rejecting from the Fibonacci Level - 38.20% Entry Precautions : Wait for the Proper Rejection
Tesla (TSLA) has been trading within a Channel Up pattern ever since the January 03 2023 market bottom. Since last week, it is staging a rebound sequence as it hit and held (closed 1W candle above it) the 1W MA50 (blue trend-line) which happens to be on top of the 1W MA200 (orange trend-line). Technically that is the bullish leg towards a new Higher...
Tesla (TSLA) has been trading within a Falling Wedge pattern of Lower Highs (Resistance) and Lower Lows (Support). The 4H MACD formed a Bullish Cross 2 days ago and last time we saw such a bullish formation this low, was on August 21. That was straight after the first Low of the Falling Wedge, which initiated the bullish sequence that formed the Lower High of...
Tesla (TSLA) had a massive opening drop yesterday and almost hit the 1D MA200 (orange trend-line) for the first time since May 31. With the 1D RSI oversold at 30.00 and Support 1 (212.50) formed by the August 18 Low just below, this sell-off may be a buy opportunity in disguise. If it holds, then the dominant medium-term pattern will emerge as a Descending...