Tesla (TSLA): Major BULLISH signal
The "strongest trendline" indicator calculates the trendline with the highest strength based on the highest Pearson correlation coefficient. In this case, it calculates the trendline over a period of 200. This allows me to plot the linear regression channel using the indicator, which can be done on a logarithmic scale (similar to the "strongest trendline" indicator). This indicates the support and resistance lines.
If the price surpasses the green line, it can be considered a breakout, suggesting a potential upward movement. Conversely, if the price falls below the red line, it can be seen as a breakout to the downside. It's important to monitor the "strongest trendline" indicator as it may select a different "best trend" at any time.
Please note that this is a general explanation based on the given information and does not take into account specific market conditions or individual trading strategies.
If the price surpasses the green line, it can be considered a breakout, suggesting a potential upward movement. Conversely, if the price falls below the red line, it can be seen as a breakout to the downside. It's important to monitor the "strongest trendline" indicator as it may select a different "best trend" at any time.
Please note that this is a general explanation based on the given information and does not take into account specific market conditions or individual trading strategies.
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