Technical Analysis for Tesla (1D chart) on 05 Feb 2024

Technical Analysis for Tesla (1D chart) on 05 Feb 2024

Observations based on Tesla 1D chart (1750hrs, GMT+8hrs, 05 Feb 2024):

  • MACD - still downtrend.

  • Moving Average (MA) - a death cross was formed and completed (when the MA50 line cuts the MA200 line from above), which implies a downward trend.

  • Stochastic - it is showing downtrend

  • Volume over the last few days are weak - lesser than the 3M average of 116M. yesterday, it was trading at 110.51M volume, lesser than the average. This implies that the current downtrend is not gaining momentum

  • Candles are below both MA 50 & MA200 lines, this can also imply that the stock is bearish in both mid term and long term outlook.

  • Stock is way under the MA 200 line, a key support line for long term trend.

Based on the above data, it is possible that Tesla stock continues to trend downwards though it is losing momentum.

There could be other macro and keyman factors that could fuel the current downtrend.


$Tesla Motors(TSLA)$

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  • sullivan_Rlo
    Haha, fun analysis! Definitely agree! 😄
    Fold Replies
    • KYHBKO
      thanks. lots of talk about Tesla so I did this to look from Technical Analysis