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Tesla Technical Analysis - Tesla Trading: 2023-10-10
Tesla Technical Analysis Summary
Above 263,33
Buy Stop
Below 247,52
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
Tesla Chart Analysis
Tesla Technical Analysis
The technical analysis of the Tesla stock price chart on daily timeframe shows #S-TSLA,Daily is rebounding above the 200-day moving average MA(200) after hitting six-week low eight sessions ago. We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 263.33. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 247.52. After placing the order, the stop loss is to be moved every day to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (247.52) without reaching the order (263.33), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Stocks - Tesla
Sales of Tesla’s China-made electric vehicles fell over 10% from a year earlier in September. Will the Tesla stock price continue rebounding?
Tesla sold 74,073 China-made electric vehicles in September - a 10.9% decrease from a year earlier, according to the China Passenger Car Association (CPCA) data. Sales of China-made Model 3 and Model Y cars were down 12.0% from a month earlier. The EV leader unveiled a restyled Model 3 in September with a starting price in China 12% higher than the previous model, and would start delivering in the fourth quarter. However its Chinese rival Xpeng also launched a revamped G9 SUV to sell 15% lower than the previous model. Rising competition and declining sales trend are bearish for a company’s stock price. However, the current setup is bullish for TSLA stock price.
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