The GoNoGo Trend of TSLA shows an amber, neutral bar. As it seems to form a triangle, with lower highs and higher lows, this amber bar reflects a dent in the the electric car maker’s strength.
We noted a while ago that TSLA hadn’t yet experienced the same threat to its “Go” trend as its rival tech giants such as Apple, Amazon and Microsoft, but perhaps this is a sign of some volatility ahead.
We will focus on the GoNoGo Oscillator to see if the zero line is held as support, or if it is broken to the downside. This will likely tell us if the change in trend color is temporary or a longer lasting event.
By
Alex Cole
