$TSLA entered a new “Go” trend late April.
This comes after a strong “NoGo” trend that saw a series of lower highs and lower lows and GoNoGo Oscillator being primarily supported by the zero line. Most recently after the last lower low we saw price move mostly sideways and GoNoGo Oscillator struggle to stay below zero. GoNoGo Trend even painted a few amber “Go Fish” bars of uncertainty as we saw a Max GoNoGo Squeeze build, reflecting the tug of war between buyers and sellers at this level. The GoNoGo Squeeze was broken with the oscillator climbing into positive territory and this was quickly followed by aqua “Go” bars. After price failed to break above horizontal resistance, GoNoGo Oscillator has retested the zero line and found support. We see a Go Trend Continuation Icon (green circle) under the current price bar, telling us that momentum is resurgent in the direction of the new “Go” trend. We will watch to see if this gives price the push it needs to break through to a new higher high.
