Analyzing Tesla’s Price Performance Across Five Time Frames: A Detailed Overview

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Analyzing Tesla’s Price Performance Across Five Time Frames: A Detailed Overview

Still the most actively traded stock most days, TeslaTSLA is no longer among those favorites of the Nasdaq 100 that the algorithms and humans just keep taking higher. It hasn’t been officially kicked out of the “Magnificent 7,” but no one paying attention puts it on the same list as NVIDIANVDADIA and MicrosoftMSFT anymore.

Analysts could come up with differing views on the financial reasons for the months-long decline in value, but it’s likely that investors have re-considered how they feel about Chief Executive Officer Elon Musk. His mind seems to be elsewhere a lot these days and that distracted quality has been noticed by recent Tesla shareholders.

Tesla On 5 Time Frames.

Hourly.

From $205 in late February 2024 to the current $160 by mid-March, 2024, for a 22% loss from the high to the low on this chart. That took less than a month. It’s rallied from the low back up to $172 which puts it just above the 50-hour moving average. The 200-hour moving average continues downward.

Daily.

It looks like the late July 2023 high is up above $285 and it’s never made it back to the level since then. It’s a classic “lower highs and lower lows” chart, signifying the presence of a downtrend. Every time it’s gone up, sellers have entered. Note that the 50-day moving average crossed below the 200-day moving average at the end of January 2024.

Weekly.

The red-dotted line indicates the extent and duration of the downward trend from October 2021 to the present. The price has kept underneath the line from then until now. Long-term investors hoping that it would eventually surpass that $400 level have to be wondering whether that will ever take place.

Monthly.

It’s a delightful “to-the-moon” look from early 2020 to the late 2021 peak. The price has been back down to earth since then, with an occasional rally to make it interesting. The January 2023 low of $100 looks as if that’s the next significant support level.

Point-and-figure chart.

Just to provide a different kind of perspective, this point and figure look shows the decline from the beginning of January 2024 to the present. The price has been below the red line the whole time. Will the low of $162 hold again?

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