Tesla: Back on the Highway

Tesla has had its fair share of bad news over the past year beating the stock down and making it a favorite of short selling bears for a bit. Well, those bears are counting their losses and will continue to do so.

Tesla is reversing trend quickly on news of their surprise profit and 2-day 30% price rally, but then came the shake out. Now, the trend is picking up speed and volume and accumulation again. We've seen a crossover between the 63 day and 200 moving averages, and the ADX has shown a sharp and fast move into a rapidly forming uptrend. RSI is high indicating some pressure from speculation, but it's topping out and staying topped out the way stocks in a strong rally do. Rate of change , MACD , and relative strength in comparison to a 70/30 blended fund are all positive over the last week with indication of addition upside in store with the prevailing market resuming an uptrend.
Trade closed manually: This is a hair up, but I'm out. Maybe I'm missing out, but I have other positions making better profits.


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