TSLA rises to highest close since August 31st

Tesla, Inc. (TSLA) Technical Analysis Report for Sep 14, 2018

Highlights

TSLA finds buyers at key support level
TSLA ends the day on a bullish note closing near the high of the day
TSLA finds buyers again around 286.52
TSLA pushes through previous session high
TSLA rises to highest close since August 31st

TQ Sentiment

Report Sentiment: 80% Bullish
Technical Forecast:

Overview

TSLA ended the week 12.14% higher at 295.20 after gaining $5.74 (1.98%) today. Today's closing price of 295.20 marks the highest close since August 31st. Closing above Thursday's high at 295.00, the market confirms its breakout through the previous session's high having traded $2.32 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for TSLA

Volatility

Friday's trading range was $10.80 (3.74%), that's slightly below last trading month's daily average range of $11.57. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.

Support/Resistance

After trading as low as 286.52 during the day, the share bounced off the key support level at 288.20. The failure to close below the support might increase that levels importance as support going forward. After having been unable to move lower than 285.18 in the prior session, Tesla found buyers again around the same price level today at 286.52.

Trend

Although still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

As prices are trading close to September's high at 298.19, upside momentum could speed up should the stock mark new highs for the month.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Market Conditions for Tesla, Inc.

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