$TSLA shows change in trend to “Go”

$TSLA shows change in trend to “Go”


June 2021


Alex Cole

At the beginning of the week we discussed how the environment was. ripe for a return to growth stocks, and $TSLA was one we featured.

As the week has progressed, we see the stock coming out of its ascending triangle consolidation pattern. $TSLA stock has broken out and painted an aqua bar indicating a new "Go" trend. In the run up to this price action, we saw the GoNoGo Oscillator ride the zero line in an extended squeeze and break out of it into positive territory, which suggested a change in trend was coming.  Since breaking out of the squeeze, the GoNoGo Oscillator has already found support at the zero line.  There is some congestion at current price levels from early May, and so we will look to see if $TSLA can continue to move higher from here.