Looking at our indicators once again, we can see on our favorite TDI that the red line (RSI) has breached through the green line today after a small 1.7% rally.
The last time RSI on the TDI traded sideways before breaking upwards was April 2023, which saw momentum towards $299 in an 83 Day rally
If our RSI continues to gain upward momentum in the coming days & weeks, we could see the trend back to $300 continue
Simultaneously, we can see the Stochastic RSI is awaiting confirmation from broader markets before resuming the uptrend, as a small and faint golden cross is beginning to form
It is starting to look like the worst is behind
TSLA
as far as downward price action, but we need the RSI to start gaining some momentum, otherwise
TSLA
will revisit $150 in a few weeks
The last time RSI on the TDI traded sideways before breaking upwards was April 2023, which saw momentum towards $299 in an 83 Day rally
If our RSI continues to gain upward momentum in the coming days & weeks, we could see the trend back to $300 continue
Simultaneously, we can see the Stochastic RSI is awaiting confirmation from broader markets before resuming the uptrend, as a small and faint golden cross is beginning to form
It is starting to look like the worst is behind
TSLA
as far as downward price action, but we need the RSI to start gaining some momentum, otherwise
TSLA
will revisit $150 in a few weeks