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Tesla Fell More Than 12% After Earnings. Where Might It Go Next?CEO Elon Musk of Tesla NASDAQ:TSLA has said that if you believe in the future of his EV company’s FSD technology (short for “full self-driving”), then you should probably be invested in TSLA stock. If you don’t have faith in FSD, then perhaps you shouldn’t be. I don't know about that, but one thing that technical analysts can understand is the stock’s chart, seen here as of midday Wednesday (July 31): As the chart above shows, TSLA rallied heading into release of its earnings on July 23 after the bell, but has mostly pulled back since then -- including falling more than 12% on July 24. Could such action have been forecasted and acted upon? Let’s check it out. The first thing to note is the stock’s inverse head-and-shoulders pattern -- the set of three purple curved lines in the chart above. That pattern is historically bullish. Tesla’s breakout from the admittedly crooked neckline (the downwardly sloping purple line above) ran some 42% to the upside before the stock apexed at $271 intraday on July 11. However, July 11 is in the past. What about the future? As of midday Wednesday, Tesla was still about 15% below its $271 peak. Tesla’s daily Moving Average Convergence/Divergence (MACD) was also postured rather bearishly. The stock’s 12-Day Exponential Moving Average (EMA) -- denoted by the black line at bottom right in the chart above – was below Tesla’s 26-Day EMA (the orange line above). Add in the fact that the stock’s histogram of its 9-Day EMA (the blue bars at the chart’s bottom right) was below zero and that’s an historically bearish technical pattern. Meanwhile, the stock’s Relative Strength Index (the gray line with the purple background in the chart above) appears neutral, but is curling back in a bullish direction. But what if we erase our inverse head-and-shoulders pattern and make it part of a larger story? Check this out: Tesla’s RSI and MACD are both the same in this chart as they were in the first one, but this graph no longer shows an aged inverse head-and-shoulders pattern that has already run its course. Instead, this chart shows an historically bullish cup-with-handle pattern, as denoted by the big purple arc above. In fact, the diagram above appears to show multiple technical positives for Tesla: • The cup-with-handle pattern has a $271 pivot point, marked with the small purple line at right. • Tesla is trading above both its 50-Day Simple Moving Average (the blue line) and its 200-Day SMA (the red line). • The 50-Day SMA has crossed above the 200-day one, forming a so-called “golden cross.” That’s historically a bullish sign. Things will likely look even better for Tesla if the stock can take back the 21-day Exponential Moving Average (EMA) to get the swing traders in line. That would likely budge the 9-day EMA’s histogram (the blue bars at bottom right) into positive territory, which is typically bullish. It would also probably push the 12-Day EMA (the black line at bottom right) above the 26-Day EMA (the orange line at right). That’s an historically bullish sign as well. This presentation discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. The examples provided are for illustrative purposes only and are not intended to be reflective of the results you can expect to achieve. Specific security charts used are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. This presentation discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. The examples provided are for illustrative purposes only and are not intended to be reflective of the results you can expect to achieve. Specific security charts used are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeline for any particular purpose of the above content. Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. In the U.S., investment products and services on Moomoo are offered by Moomoo Financial Inc., Member FINRA/SIPC. TradingView is an independent third party not affiliated with Moomoo Financial Inc., Moomoo Technologies Inc., or its affiliates. Moomoo Financial Inc. and its affiliates do not endorse, represent or warrant the completeness and accuracy of the data and information available on the TradingView platform and are not responsible for any services provided by the third-party platform.
Editors' picks
NASDAQ:TSLA
by moomoo
1
TSLA Trend Break Short IdeaI've been covering TSLA a lot lately due to the potential breakout from a major 2.5 year downtrend. This is a different look at a shorter term uptrend, which is more bearish confirmation. I was conflicted about TSLA when it first broke out of the major trend from 2021, but I did long it in case it held and kept going. If it had held above that trendline, I would have fully expected a new big leg up. However, it only held for a week or so and has now failed miserably. It closed today back under the trendline. I see this is as highly bearish fakeout and that's why I began shorting it from there. Fakeouts like this often lead to strong momentum in the opposite direction, but it can be volatile and doesn't happen in one day. It was going to be a hard mover either way and I think it may have finally chosen it's direction. Like I said, if this shorter term uptrend breaks to the downside now, it'll be more confirmation to hold my puts. First target is the lows from June around $170.
NASDAQ:TSLAShort
by AdvancedPlays
2
Tesla Headed Toward 130 Or Lower (100) (2 Mins. Read)We can easily assume a lower low for Tesla, Inc. That is, a lower low in the coming months vs the low that was hit April 2024. This assumption is made based on the fact that we have a strong lower high in July 2024 vs July 2023. A year long and a lower high implies a lower low. This is a simple and short trade-idea. Unless things get really, really wild, a lower low demands months of bearish action. There is still time to prepare. ➖ Support targets follow: 200, 180, 165, 145. ➖ Lower low territory: 125 and ~100 (which means, near one hundred). Good luck with your trading. I hope you find this information useful. Namaste.
NASDAQ:TSLAShort
by AlanSantana
2
TSLA: Dangerous Price Action - Next Key Points to Watch.The daily chart displays a recent challenge at the main mid-term resistance level around $233.09, where the stock has struggled to maintain upward momentum, marking this as a significant resistance zone, which was a previous support level, another example of the Principle of Polarity in Technical Analaysis. This resistance, coupled with multiple rejections at this level, suggests a strong overhead supply that could cap further price advances in the short term. What's more, this resistance area is reinforced by the 21-day EMA. TSLA would have to break this key resistance as soon as possible to turn bullish again, otherwise, it'll seek its next support levels. A critical gap support observed at approximately $213.23 serves as the immediate fallback level. This area could be pivotal if the stock retreats further, as gaps often act as psychological markers for traders and may offer support or trigger accelerated selling if breached. On the weekly timeframe, support area around $205.30 (previous resistancce), supplemented by the 21-week EMA, provides a broader view of the stock's structural support. This confluence of support levels not only highlights a potential stabilization zone but also frames the downside risk if market conditions deteriorate. Tesla's stock movement near these key technical levels—resistance at $233.09 and support at $213.23 and $205.30—offers a clear narrative of a tug-of-war between bullish aspirations and bearish pressures. The interplay between these levels should be closely monitored, as a decisive breakout or breakdown could set the tone for the stock’s direction in the coming weeks. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
5
$TSLA #Breakout #ReTest Price Target Still: $300 EOYLotta people talking about NASDAQ:TSLA , here are my thoughts... NASDAQ:TSLA clear STRONG BREAK of MULTIYEAR RESISTANCE LINE... Now retesting to ask "Is it real?" There should be a STRONG BOUNCE on NASDAQ:TSLA in coming day via technicals (see past charts if you think technicals are "BS") = (Equally,) if there is NO Bounce, that is a BIG sign of weakness as it would be a BRUTAL BULL TRAP... Paytience pays, will post updates if I stab long on this setup... Tech has had a healthy sell off imo. There was only a few mins of "Panic" that I noticed personally throughout the whole market. NASDAQ:NVDA abandoned baby idea highlights panic dump and Warren Buffett "buy when others are fearful" motto... 3 weeks in a row with BIG RED days should mean a lot of "Protection" was bought via puts... This is HEALTHY!!! (No overleveraged DELTA/BUBBLE...) I believe another #WHITEBOYSUMMER #SHORTSQUEEZE could have been BUILT ;) I will be legging into some serious longs this week if it looks like we bottomed out by the end of this coming week. End of month usually makes for some good trade opportunities... To confirm market strength is back, look for what was working all year ie; Mag7 + AI ... Gold should also be on watch imo...
NASDAQ:TSLALong
by Prophecies_R_Us
39
Tesla's Q2 2024 earnings report, sign to the moon!Tesla's Q2 2024 earnings report was like a summer blockbuster with a twist ending. Revenue soared to a staggering $25.5 billion, but earnings per share (EPS) took a nosedive, dropping to $0.46 from $0.85 in the same quarter last year. It's a classic case of "one step forward, two steps back." While the electric vehicle (EV) giant is still projected to grow faster than the rest of the auto industry, those shrinking profit margins are raising eyebrows. It's like Tesla's throwing a party but forgot to budget for the drinks. The technical analysis tells a similar story of mixed signals. The stock chart resembles a roller coaster, with the recent earnings report doing little to calm the ride. Sure, Tesla is still the top dog in the EV world, but those shrinking profit margins are a red flag. It's like seeing a Ferrari with a flat tire – it still looks cool, but you know it's not going anywhere fast. Rookie Takeaway: Tesla's like a hot rod on the stock market highway – revving up its revenue engine while burning through cash like it's going out of style. Sure, it's still a thrilling ride, but investors might start feeling a little carsick if those profit margins keep shrinking. So, buckle up and keep your eyes peeled – this Tesla joyride could get bumpy.
NASDAQ:TSLA
by CriptoJoe
How to Use Artificial Intelligence for Stock TradingHow to Use Artificial Intelligence for Stock Trading As you may know, AI can mimic human intelligence and make decisions based on data analysis. Artificial intelligence can be used in stock trading to analyse historical market and stock data, generate investment ideas, form portfolios, and automatically buy and sell stocks. AI is able to quickly process huge amounts of data and make informed trading decisions. AI-based trading strategies can be used to identify patterns and trends in real time. This FXOpen article explores the process of using artificial intelligence in stock trading and highlights the pros and cons of AI automated trading. How Does Trading with AI Work? Using AI for trading stocks is a relatively new practice. AI analyses markets with accuracy and efficiency and makes forecasts that help traders mitigate risks and provide higher potential returns. Here’s an overview of how AI stock trading works. The first stage needed for an AI model to function properly is robust data collection and preprocessing. This stage is akin to gathering raw materials to create a final product. During the second stage, specialists load historical data and algorithms into the model, which serve as the basis for identifying trends and price fluctuations that took place in the past. This way, the model obtains the information it will then analyse and learns how to analyse it. During the third stage, the model uses real-time data from various sources, such as financial news and economic indicators, to make forecasts. As new data becomes available, the models can be adjusted and refined. The best AI stock trading software can only be created using cleaned, structured, and prepared data. The final stage includes making trading decisions, such as when to buy or sell stocks, based on the processed data. AI systems can execute trades automatically. AI can also manage investment portfolios by adjusting the allocation of assets depending on market conditions. What to Look Out for When Using AI in Trading When creating an AI system for trading, choosing the most appropriate algorithm is of paramount importance. There’s a wide range of algorithms; for example, support vector machines (SVMs) are well suited for classification tasks and recurrent neural networks (RNNs) for sequence prediction. The choice of algorithms depends on trading goals and the type of data a trader will be working with. It’s a good idea to look at performance metrics such as accuracy, precision, recall, and F1 score to determine which algorithm is the best fit for your trading strategy. If you decide to implement AI in stock market trading, you’ll need to pay attention to a few things that will allow you to minimise risks. Risk Management and Control Although AI offers many benefits in trading, it creates a new set of risks, in particular, the risk of automated decision-making. It’s important to have human oversight to ensure that the AI is making informed decisions. Human expertise helps identify potential risks and adjust the AI model as needed. Traders can take precautions, such as setting stop-loss and take-profit levels, to make sure that AI algorithms do not cause excessive losses. Data Quality Poor-quality data can lead to inaccurate predictions and incorrect trades. It’s important that the data uploaded to the system is accurate, relevant, and up-to-date and that the AI stock market trading software provider is trustworthy and reliable. Ideally, an AI system will continuously analyse incoming data and adapt to changing market conditions. For example, if an unexpected economic event occurs, the AI model must be capable of adjusting its strategies in real time. Regulatory Compliance The adoption of AI in trading also brings forth regulatory challenges. When using AI, it is critical to comply with financial regulations to avoid legal issues. This includes ensuring that the AI model is transparent and explainable and that it does not engage in illegal activities such as insider trading. AI trading strategies should comply with all relevant laws. Case Studies and Examples One real-life example of successful AI adoption in trading is the case of the hedge fund Renaissance Technologies, which uses proprietary trading algorithms based on artificial intelligence. The New York-based hedge fund has a reputation as one of the most successful investment companies in the world using AI. Bridgewater Associates, also one of the world’s largest hedge funds, uses AI to analyse market data and make trading decisions. The fund has been successful in using AI to identify patterns and trends in market data. The third example is the use of AI in high-frequency trading. High-frequency trading involves using algorithms to execute trades at high speed. AI makes it possible to execute trades with speed and accuracy that exceeds human capabilities. Benefits and Challenges of AI Trading The new technology has both advantages and pitfalls. Here’s a table summarising the benefits and challenges of using AI algorithmic trading. Benefits - Increased efficiency - Improved accuracy - Effective risk management - Real-time analysis - Diversified trading strategies - Enhanced liquidity management and execution of large orders - Improved decision-making Challenges - Low-quality data - Overfitting - Limited human oversight - Compliance with financial regulations - Cost - Potential for increased complexity - Potential for reduced transparency Using AI can result in increased efficiency, improved accuracy, effective risk management, and much more. Of course, there are other ways to analyse the market. For example, on the TickTrader trading platform, you can trade using advanced tools for analysing and assessing risks. Data quality issues, model overfitting, and limited human oversight are the potential risks that can hinder the effectiveness of trading. To mitigate these challenges, consider validating data, testing the model, and adapting to evolving market conditions. Final Thoughts AI allows traders to analyse vast amounts of data, identify patterns, and make informed decisions quickly. However, it’s important to manage and control the risks associated with the use of AI in trading. Carefully consider the challenges and limitations and endeavour to take steps to mitigate them. You can open an FXOpen account to start trading, and as you gain experience, consider implementing advanced technologies, including AI. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ:TSLAEducation
by FXOpen
6
$TSLA DOUBLE BOTTOM $206 BEFORE 1Q EARNING A double bottom pattern is a well-known charting formation in technical analysis that signifies a significant shift in trend and a reversal of momentum from a previous downward movement in market trading. It illustrates the decline of a security or index, followed by a recovery, another decline to the same or similar level as the initial drop, and ultimately another recovery (which could potentially lead to a new upward trend). - Elon Musk, the CEO of $Tesla, has officially announced that the company will introduce its Robotaxi during a highly anticipated unveiling event scheduled for August 8th. -$Tesla's CEO Elon Musk is scheduled to meet with Indian Prime Minister Narendra Modi in India to discuss and unveil the company's investment plans. NASDAQ:TSLA Institutional Holdings -Increased Positions 1,615 66,420,077 -New Positions 333 7,940,604 $160 BOTTOMMMMMM (SUPPORT) $183 RESITANCE (NEED TO BREAK)
NASDAQ:TSLALong
by sej4974