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Technical Analysis: Will Tesla Shares Drive Higher?

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Tesla more than doubled between January and mid-February. It retraced almost half that move last month and is now trying to bounce. Will the move continue?

The first pattern on today’s chart is the 50-day moving average, which the electric-car maker tested and held at the start of last week. The 50-day MA is also rising for the first time since last summer. That may suggest…

For more, please click here to view the related idea and chart analysis on TradingView.

Tesla (TSLA), daily chart with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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