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Tesla’s Stock Is Holding Support as Relative Strength Turns Positive
David Russell
May 27, 2021
Consumer | Stocks | Technical Analysis

After months of weakness, Tesla may be charged for another move to the upside.

Some interesting patterns have recently appeared on the electric-car maker’s chart.

First is the false breakdown below $550 on May 19. This was followed by a rebound back above the …

For more, please click here to view the related idea and chart analysis on TradingView.

Tesla (TSLA), daily chart with key patterns, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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