This is an extremely simple observation:
Every time the monthly stoch RSI went to 100, so full overbought, we saw new alltime highs.
Quite simple!
That was already twice the case, and I think it will happen again now.
TSLA is on a brutal run, I by the way also called the bottom back in may, it was pretty clear back then that this was a huge trap for poor shorters:
So yes, chartwise this is pretty simple.
But the fundamentals also confirm this:
Gigafactory 3 finished, Model 3 production started there.
Maybe extension of EV rebates.
Gigafactory 4 near Berlin starts in being built in Jan 2020.
Growth, expansion, growth on all fronts.
Every time the monthly stoch RSI went to 100, so full overbought, we saw new alltime highs.
Quite simple!
That was already twice the case, and I think it will happen again now.
TSLA is on a brutal run, I by the way also called the bottom back in may, it was pretty clear back then that this was a huge trap for poor shorters:
So yes, chartwise this is pretty simple.
But the fundamentals also confirm this:
Gigafactory 3 finished, Model 3 production started there.
Maybe extension of EV rebates.
Gigafactory 4 near Berlin starts in being built in Jan 2020.
Growth, expansion, growth on all fronts.