$TSLA has seen prices stabilize over the past month and a half.
The automobile giant was able to halt its fall after being in a “NoGo” for several months. Price hit a final low at the end of April, and we saw GoNoGo Oscillator rally above the zero line which preceded the trend change that we then saw in the panel above. However, the fast move higher has been hard to sustain, and since the initial high a few day slater, we have seen price move no higher. With a mix of blue, weaker aqua “Go” colors and even a few amber “Go Fish” bars sprinkled in, price has moved mostly sideways. During this time, GoNoGo Oscillator has been stuck at the zero line. We have seen two Max GoNoGo Squeeze grids build. This demonstrates the market uncertainty and indecision at these levels. With the oscillator in a GoNoGo Squeeze for a whole month, it will be imperative to watch for the break. As the oscillator breaks out of the Max GoNoGo Squeeze, that will help us determine the likely direction of price’s next move.
