Since the GoNoGo “Go” flag on the 16th of April, Tesla stock has surged 150%!
Most recently, the close on 8/13 gave another low risk entry green circle. The stock then rallied to new all time highs, closing at 1835.64 yesterday.
The GoNoGo Oscillator shows that there has been strong participation in this current push higher (darker blue line) and is currently at an overbought extreme. As is typical of a strong trend, momentum will range from overbought to neutral. Be prepared for a small consolidation/pullback from these extremes but remember, the trend is a “Go” on the electric car maker.
Most recently, the close on 8/13 gave another low risk entry green circle. The stock then rallied to new all time highs, closing at 1835.64 yesterday.
The GoNoGo Oscillator shows that there has been strong participation in this current push higher (darker blue line) and is currently at an overbought extreme. As is typical of a strong trend, momentum will range from overbought to neutral. Be prepared for a small consolidation/pullback from these extremes but remember, the trend is a “Go” on the electric car maker.
