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TSLA: Technical Analysis | Charts – July 16, 2020

by | Jul 17, 2020 | Public Analysis, TSLA

Summary: While price remains above 1,228, it may be safest to assume the upwards trend remains intact. A target calculated from a pennant pattern is at 2,393.

MONTHLY CHART

TSLA Monthly 2020
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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.

WEEKLY CHART

TSLA Weekly 2020
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There is an upwards trend in place. Conditions are now extreme but may continue to be so for a while.

DAILY CHART

TSLA Daily 2020
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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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Careful risk management protects your trading account(s).

Follow my two Golden Rules:

1. Always trade with stops.

2. Risk only 1-5% of equity on any one trade.

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New updates to this analysis are in bold.

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