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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Saturday, February 29, 2020

Tesla: February 2020 Insider Buys

I recently wrote about Tesla (TSLA) here and here.

One small tidbit of information caught my eye this weekend, namely the two insider buys that occurred during February (February 14), as noted below.

 Source: openinsider.com

I'm interested because the purchase price (767.00) of these two buys is near the top of Thursday's large gap down, as shown by the pink line on the following daily chart of TSLA.

The gap-fill price would be 776.11 (Wednesday's low) and the 20-day MA sits at 790.00. This zone represents major resistance, while 600.00ish represents major support (just below the 50-day MA).

Watch for a potential spike higher through the 5-day MA, then gap fill and rally to around the 20-day MA at 790.00 in the next week or so...especially if many other U.S. Sectors and Major Indices also spike higher to retest their 5 & 20-day MAs, as per my post here.

Otherwise, we may see more weakness for TSLA in the days/weeks ahead.

I've not heard any talk this weekend as to any major stock buybacks beginning yet for U.S. companies, in general, so keep an eye on those insider buys/sells at the above-noted website for clues. Perhaps we'll hear more about that if the Fed steps in to provide any type of monetary policy easing measures anytime soon.