TSLA: Ready For Next Leg Up
Tesla has recently seen some harsh losses as fears of a recession and growing interest rates have been suspected to hit the automobile industry. Price has been severely depressed in recent months/years on this stock. Recent fed data and future plans have relieved some of these worries, pushing the stock higher in recent days. We have just seen a breakout from the downtrend, as price has been above the trendline for days. Over the past month's we have been seeing lower highs, and lower lows (downtrend). Just recently, however, we have seen a multitude of closes higher than these previous highs, which traditionally signals the end of a downtrend. I am expecting the bulls to take this opportunity to rocket the stock back to previous levels. Tesla has been in this bullish of a setup in many many months.
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