$TSLA enters “NoGo” as it tests key level

$TSLA enters “NoGo” as it tests key level


August 2023


Alex Cole

$TSLA had been in a "Go" trend since May.

Recently though we have seen price struggle as it corrected from a Go Countertrend Correction Icon that came after the last higher high 7/20. GoNoGo Trend followed with a string of weaker aqua bars.  GoNoGo Oscillator fell through the zero line after the last high in price and quickly retested that level and found it to be resistance. GoNoGo Trend has now painted a second "NoGo" bar and the oscillator is in negative territory but not yet oversold.  With a "NoGo" identified, and momentum confirming the trend, we will watch to see if price breaks below the horizontal resistance level and sets a new lower low.