Tesla Steals The Show
Today at a Glance:
Video deep dive into Tesla’s price action in 2023
Potential areas to position
What to watch for going forwards
Let’s dive in:
Today’s action left no doubt if we rally into 2024, Tesla will be leading.
The stock finished today +10% on volume that was the highest in two months (and the highest up volume since early June). Price gapped above the 50DMA, and nothing says strength more than unfilled gaps on volume closing near or at the HOD.
So, what’s the best way to get positioned in a name like this BEFORE you get a lucky gap up like today? Let’s check the chart below:
I’ve gone ahead and labelled Tesla’s price cycle in the lens of Oliver Kell, and published a deep dive into each step into this cycle here.
This analysis played a critical part in my ability to stay agile and try to get positioned over the past couple of days. These are the exact things I was looking at in real time:
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An 8-minute video analysis of Tesla’s price action in 2023
Thoughts on my current positioning and what to expect going forwards
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