Tesla

  • TSLA

  • $422.14

  • -3.22%

  • $425.51

  • $447.08

  • $417.64

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Granny Shots

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Live Technical Stock Analysis
Thu, December 5, 2024 | 4:00PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

LIVE Technical Stock Analysis December 2024

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Tue, December 3, 2024 | 11:55AM ET

⚡ FlashInsights

Tue, December 3, 2024 | 11:55AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Following its sharp push up into 11/12, TSLA -3.22%  has largely moved into a 3-week consolidation pattern near recent highs. As can be seen on hourly charts, this pattern is quite constructive, and as an ascending triangle pattern, should be resolved by an upside breakout. Yesterday's push back to 360 was thought to be constructive, and Musk's pay package challenges aren't doing much to derail this progress. Moreover, discussions on DOGE department taking away from Musk's duties also not really proving to be a significant factor for this stock lately. Movement back above 362 would be what the "bulls" will need to see to help TSLA -3.22%  start to move up more quickly, and should help this get to 380-3 which is a big target. Any further pullback should see strong support at 344-5, while above 362 allows for technically driven buy programs to kick in, providing upside acceleration
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Fri, November 15, 2024 | 1:03PM ET

⚡ FlashInsights

Fri, November 15, 2024 | 1:03PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
TSLA -3.22%  also setting up as an attractive risk/reward after just fractional consolidation. Many might view this as a big selloff this week, but in the bigger scheme of things following its 11/4-11/11 rally of about 119 points, this minor 3 day consolidation has barely given up 38.2% of the prior advance just from early November. I expect a bottoming in TSLA next week and rally to 369 - 383 into late November/early December. If this were to happen, than a larger period of consolidation might be likely but the stock remains highly attractive technically, even if it doesn't bottom today and sells off further to $300. the risk reward has gotten much better as part of an accelerating momentum situation.
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