{"id":12371,"date":"2021-07-23T08:08:00","date_gmt":"2021-07-23T07:08:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=12371"},"modified":"2021-07-23T15:34:26","modified_gmt":"2021-07-23T14:34:26","slug":"tesla-technical-analysis-looking-more-bullish-3","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/tesla-technical-analysis-looking-more-bullish-3\/","title":{"rendered":"Tesla Technical Analysis – Looking more bullish"},"content":{"rendered":"\t\t
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Tesla<\/a>\u2019s share price has been treading water above the $600.00 level this week, ahead of next week\u2019s second-quarter earnings and investor call. The electric car maker has anchored itself above its 200-day moving average, despite extreme volatility in U.S. stocks markets.<\/p>

This week Elon Musk took part in a Bitcoin conference with Square\u2019s Jack Dorsey and Cathy Wood from Arc Capital. Musk talked up the prospect of Bitcoin\u2019s improving carbon footprint and how Tesla are getting ready to accept Bitcoin again.<\/p>

During Tesla\u2019s earnings conference call, investors will be looking for updates on Tesla\u2019s Bitcoin holdings, and its position towards more Bitcoin purchases. They will also want to hear about competition in China, the new P5 sedan, the company\u2019s coming model-Cybertruck.<\/p>

Some caution is advised, as Tesla reports its deliveries before its financial results, giving investors a reason for excitement as earnings approach. Estimates for second-quarter profits have risen from roughly 95 cents a share to about 96 cents after the company delivered more than 200,000 vehicles\u00a0in a quarter for the first time.<\/p>

Tesla stock has usually risen in the week before earnings, so bears beware. For the record Tesla\u2019s stock has advanced in eight of the 12 quarters reported, and has been outperforming fund managers favourite, the S&P 500<\/a>.<\/p>

Watch out for data surrounding carbon credits, as this is a major source of income for Tesla based on previous earnings report. We should also consider that Bitcoin started to collapse in mid-May and failed to recover to new all-highs.<\/p>

Tesla Short-term Technical Analysis<\/strong><\/p>

According to the four-hour time frame Tesla\u2019s stock price has broken past a key trendline and is starting to consolidate above the $600.00 level ahead of its next major move.<\/p>

In the most likely scenario Tesla\u2019s stock price breaks above the $685.00 level and heads towards $800.00. If Tesla\u2019s stock price is rejected from the $685.00 level we should expect another test of $600.00.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Tesla Medium-term Technical Analysis<\/strong><\/p>

According to the daily time frame Tesla\u2019s stock price has staged a breakout from a large descending triangle pattern, although upside momentum is generally lacking.<\/p>

If Tesla stock price continues to trade above the triangle pattern the chances are very high that Tesla\u2019s stock price advance back towards its all-time price high.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes\u00a0<\/a>provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Tesla\u2019s share price has been treading water above the $600.00 level this week, ahead of next week\u2019s second-quarter earnings and investor call. The electric car maker has anchored itself above its 200-day moving average, despite extreme volatility in U.S. stocks markets. This week Elon Musk took part in a Bitcoin conference with Square\u2019s Jack Dorsey […]<\/p>\n","protected":false},"author":4,"featured_media":12372,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[61],"yoast_head":"\nTesla Technical Analysis - Looking more bullish - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/tesla-technical-analysis-looking-more-bullish-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tesla Technical Analysis - Looking more bullish\" \/>\n<meta property=\"og:description\" content=\"Tesla\u2019s share price has been treading water above the $600.00 level this week, ahead of next week\u2019s second-quarter earnings and investor call. 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