$TSLA Looks for Support in “Go” trend

$TSLA Looks for Support in “Go” trend


February 2023


Alex Cole

$TSLA has enjoyed a strong run from the lows in January.

First, as price started to climb we saw GoNoGo Oscillator test the zero line from below and then burst through a small GoNoGo Squeeze into positive territory on heavy volume (dark blue oscillator line).  Then as price gapped higher, GoNoGo Trend painted an amber "Go Fish" bar that was quickly followed by a "Go" flag.  As price takes a pause after hitting successive higher highs, we see the GoNoGo Oscillator fall to test the zero line from above.  We will look for that level to hold as support.  If it does, we will know that momentum remains in the direction of the "Go" trend and can expect price to move higher.  If the zero line does not hold, then that would be a threat to the current trend.