TSLA: Technical Analysis | Charts – July 16, 2020
Longer-term bearish divergence between price and RSI does not look to be very reliable.
There is an upwards trend that is not yet extreme. However, weakness in volume strongly suggests caution.
There is an upwards trend in place. Conditions are now extreme but may continue to be so for a while.
TSLA can reach extreme conditions at the daily chart time frame and remain there for a reasonable time. Look for bearish candlestick reversal pattern and closure of the last gap with a new low below 1,228 for indication of a trend change. While these conditions are not present, assume the upwards trend is most likely to continue.
Published @ 11:12 a.m. EST on July 17, 2020.
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New updates to this analysis are in bold.