Technical Analysis – Tesla stock continues descent; retraces until the 76.4% Fibonacci

Posted on March 17, 2020 at 6:02 pm GMT

Tesla’s stock price has corrected from the all-time highs piercing below the 50- and 100-day simple moving averages (SMAs) to touch a nearly three-month low of 394.97, which is just below the 76.4% Fibonacci retracement of the up leg from 218.21 to 967.49, of 395.83. The whole aggressive down move, which began on February 19, seems to have stalled around the 76.4% Fibo of 395.83. That said the MACD, in the negative region, is currently declining below its red trigger [..]


Technical Analysis – Tesla’s stock may trade at softer pace; 20-period EMA eyed for support

Posted on February 10, 2020 at 1:58 pm GMT

Tesla’s stock price found strong footing near the 20-period exponential moving average (EMA) on the four-hour chart after the sharp downfall off the new record high of 967.49. The 20-period EMA currently at 702.68 may remain under the spotlight in the short-term as the weakness in the RSI and the MACD suggest the market may further lose momentum. Before that, the 38.2% Fibonacci of the 328.24-967.49 upleg at 724.00 could first come to the rescue. If the sell-off extends below the 20-period [..]

Daily Market Comment – Markets hold steady but virus risks linger; oil up as OPEC+ considers output cuts

Posted on February 5, 2020 at 9:33 am GMT

Stocks extend rebound but caution keeps gains in check Yen and gold edge back up as coronavirus death toll continues to rise OPEC+ holds technical meeting to discuss fresh cuts to output amid virus impact Markets remain calm but growth worries persist This week’s cash injection by Chinese authorities and pledges of additional stimulus if needed to stabilize the economy from the disruptions caused by the coronavirus outbreak helped maintain calm in financial markets on Wednesday. Stocks in Asia headed [..]


Tesla earnings: Can the insane rally continue? – Stock Market News

Posted on January 27, 2020 at 2:17 pm GMT

The iconic electric car maker will release its fourth-quarter earnings results on Wednesday, after Wall Street’s closing bell. Tesla’s stock price skyrocketed in recent months, with the rally being exponential in nature, as investors took heart from signs that profitability was improving drastically. While the firm’s future seems very bright, its stock might have run too far too fast, suggesting that the risk of a corrective pullback seems elevated.  Pulling ahead After spending several years as one of Wall Street’s [..]


Technical Analysis – Tesla’s crazy rally nears a make or break point

Posted on January 9, 2020 at 2:38 pm GMT

Tesla’s stock price skyrocketed to a fresh record high of 498.07 on Wednesday, increasing its weekly gains to 15% due to strong vehicle delivery numbers. The RSI, although well into the overbought territory, has yet to show signs of weakness, keeping the short-term bias strongly positive. Yet, with the indicator approaching a former resistance area, some caution should be taken unless the price clears the 500.00 level, shifting the spotlight next to the 520.00 and 540.00 psychological marks. Should the bears retake [..]


Technical Analysis – Tesla stock flies to fresh all-time highs; bullish and overbought

Posted on December 20, 2019 at 11:31 am GMT

Tesla’s stock price skyrocketed past 400.00 to uncharted territory and above the 386.83 ceiling that kept the bulls under control in the 2017-2018 period, sending the fast-RSI well into the overbought territory. The latter increases the odds for a downside correction, though only a decisive close below the previous high of 360.66 would raise concerns about the sustainability of the market’s upward direction. In order to get to 360.66, sellers should breach the December 2018 peak of 380.00. If more [..]


Technical Analysis – Tesla stock maintains positive picture; rally takes a breather

Posted on November 21, 2019 at 12:01 pm GMT

Tesla sellers are currently attempting to halt further gains past the 360 hurdle. The stock gapped above the 200-day simple moving average (SMA) and the 266 swing high of July 24, overstretching the price, resulting in nearly all the declines from December 2018 to June 2019 being recouped. The short-term oscillators presently continue to reflect an improving picture but warn that the sentiment could shift to the downside. The MACD remains deep in the positive region but has marginally slipped [..]


Tesla reports Q3 earnings today but nothing encouraging expected – Stock Market News

Posted on October 23, 2019 at 2:58 pm GMT

The electric car maker Tesla is scheduled to report earnings for the third quarter today after the market close, with forecasts pointing to another weak period. Recommendations are leaning towards selling the stock. Cost efficiency is the goal Tesla announced a smaller increase in car deliveries for the third quarter than markets anticipated at the start of October and although this was also below the 100,000 quarterly target set by the ambitious CEO Elon Musk, the company managed to achieve a new [..]


Technical Analysis – Tesla stock unable to breach swing high; returns to 200-day SMA

Posted on October 23, 2019 at 7:51 am GMT

Tesla stock currently holds at the 200-day simple moving average (SMA) located at 254, which is also the 38.2% Fibonacci retracement of the down leg from 379.21 to 176.65. Sellers reversed the price – ahead of the resistance at 266 from July 24 – back down, denying further gains. The short-term oscillators are cautiously skewed towards a price improvement. The MACD, remaining above its red trigger line in the positive zone, has declined closer to it. Moreover, in the bullish [..]


Tesla’s Q2 earnings in focus after all-time high sales – Stock Market News

Posted on July 19, 2019 at 1:39 pm GMT

Tesla’s share price soared sharply higher by 42% after hitting three-year lows in early June but the rally may come under test next week when the electric-car maker announces its earnings results for the second quarter. The report will be available for review on Wednesday after Wall Street’s closing bell and even though analysts expect improvement, the company must prove that it can return to profit for its stock to keep running towards the way-above December peaks. Making profits could [..]

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